Dec
30
Written by:
Editor
12/30/2008 8:17 AM
India's Shyam Telelink, which is controlled by Russia's Sistema has announced plans to use the brand-name of the Russian mobile network operator, MTS in the Indian market. MTS is itself 52.8% majority-owned by Sistema.Sistema guaranteed US$520 million of the total US$630 million that Shyam Telelink paid for obtaining its operating licenses. The company recently used a call-option to increase its shareholding in India's Shyam Telelink from 51% to 72% - just shy of the 74% which is permitted under Indian laws.
At STL, our endeavour is to provide world class affordable mobile services to the customers, said Mr. Vsevolod Rozanov, CEO, Shyam Telelink Limited. Coming to market with a fully developed and globally recognized brand will give us a clear competitive advantage in the marketplace. The MTS brand offers Shyam Telelink a valuable portfolio of marketing guidelines that will provide time and cost advantages. The universality of MTS’ brand values and the simplicity of its design will resonate well among potential customers in India, and we are confident that the brand will aid in the expansion of our business.
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