Aircel up for sale | Sistema to buy it for $3 billion
Sistema is in talks with Aircel’s majority stake holders to acquire a controlling stake in Aircel for $3 billion.
Malaysia-based Maxis Communications holds 74 percent stake in Aircel.
Russia’s Sistema will buy into Maxis Communications with rights to have the Indian armed transferred to it.
Sistema runs a CDMA network in India under its MTS brand and has Shyam Telecom as its Indian partner.
MTS is one of the carriers to have found itself embroiled in the 2G license allocation scam after the Supreme Court revoked all licenses granted during A Raja’s tenure as the telecom minister. Aircel has close to 65 million subscribers while MTS has slightly over 16 million subscribers.