Sistema finalizing deal to merge SSTL into RCom, timing unspecified
MOSCOW. Oct 5 (Interfax) - Sistema JSFC's drawn out deal to merge its Indian mobile provider SSTL into Reliance Communications Ltd (RCom) is in the final stage, but specific dates for closing it have not been set, the Russian conglomerate's principal owner, Vladimir Yevtushenkov told reporters.
"[The deal] is concluding," Yevtushenkov said. "In India they're not naming the dates," he added when asked when the deal might be closed.
In June, Sistema management expected to close the deal with RCom within a month. "All of the conditions are specified. Everything's signed. If no emergency situations occur, we will close it," Sistema CEO Mikhail Shamolin said at the time. At that time, the company was waiting for India's telecoms authority to approve the deal.
Even earlier, Sistema said it expected to close the deal in March.