Employee Rewards and Benefits News
Can Russian investment create more jobs in Indian telecoms market?
The Russian-India telecoms deal is close to being clinched and could open up the window of new job opportunities and employee benefits.
Russia had announced its decision to buy a 20 per cent stake in Sistema Shyam Teleservices Limited (SSTL) in 2009. However, delays pushed the deal to the present financial year and should be secured by the third or fourth quarter.
After the deal goes through MTS will be part-owned by the Russian government, SSTL as well as the members of the Indian population.
SSTL is scheduled to comply with EBITDA regulations by 2013, it has been confirmed by company sources.
Vsevolod Rozanov, chief executive of MTS, said: "For regulatory purposes, the capital structure should be frozen before the IPO. As soon as the capital structure is fixed after the Russian government's investment, we can proceed with the IPO."
The company that operates under the MTS brand in 12 of India's 22 telecommunications sectors offering CDMA services to customers.
Posted by David Farrior
