Sistema to contest

Russian conglomerate Sistema, the majority stakeholder in joint venture Sistema-Shyam, on Friday, asserted that it will contest the Supreme Court’s order by pursuing all available legal remedies to protect its lawful investment.

“To safeguard its interests, Sistema and Sistema-Shyam TeleServices Ltd (SSTL) will contest this order by pursuing all available legal remedies. In the meantime, Indian operations will remain business as usual for  the company,” Sistema JSFC said.

Sistema-Shyam has pan-India operations under brand MTS and its 21 out of 22 licences stand cancelled after the SC verdict on Friday.