Russia gets DoT nod to buy 20 pc stake in SSTL

The Department of Telecom (DoT), has no objection to the Russian government picking up 20 per cent stake in telecom service provider Sistema-Shyam for a little over US$676 million.

“Sistema-Shyam Telecom Ltd (SSTL), is permitted to bring in foreign equity by issue of fresh shares as per the Lock-In principles of the DoT,” the department said, responding to a Foreign Investment Promotion Board (FIPB) querry where the proposal has been pending for sometime now.

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