Russia based largest investment company, Sistema JSFC, is all set to acquire a controlling stake in Aircel Communications for around $3 billion (~Rs. 16,500 crore). It would be one of the largest transactions in the telecom sector since Vodafone bought Hutchison Essar for $11.7 billion in 2007. Malaysia's Maxis Communications owns 74% stake in Aircel that has about 65 million subscribers.
Sistema Shyam TeleServices Limited (SSTL) nationally operates its telecom services under the MTS brand that offers mobile services on CDMA technology in India. It lost its license in all the 21 circles in India after the Supreme Court judgement earlier this year.
Aircel's spokesman has denied of such deal, but ET has confirmed it with 2 of their sources, and they expect that the transaction could be announced shortly.
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