Reliance Communications to Acquire SSTL's MTS Telecom Business — gadgets.ndtv.com
Billionaire Anil Ambani-led Reliance Communications on Monday said it will take over Russian conglomerate Sistema's Indian mobile telephony venture that operates under the MTS brand.
While financial details of the deal were not immediately announced, RCom said Sistema Shyam Teleservices Ltd (SSTL) will hold a 10 percent equity stake in RCom as a result of the deal.
In addition, RCom will acquire SSTL's valuable and superior 800/ 850 MHz band spectrum, ideally suited for 4G LTE services, to complement its own unique nationwide footprint of minimum 5 MHz contiguous 800/850 MHz spectrum aggregating 148.75 MHz.
This will extend the validity of RCom's spectrum in 800/ 850 MHz band in 8 important circles by a period of 12 years from 2021 till 2033 (Delhi, Gujarat, Tamil Nadu, Karnataka, Kerala, Kolkata, UP (West) and West Bengal).