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Russian mobile operator enters Indian market

Russian consumer services company Sistema has bought a 10% stake in Indian telecoms operator, Shy-am Telelink. The deal is worth $US 11.4m.

Sistema, which owns Russia’s top mobile phone company, MTS, will be looking to raise its share in the Indian firm to 51%.

The acquisition makes Sistema the first Russian company to tap into India’s fixed-line and mobile phone market. 

With its cheap call rates, India is the world’s fastest-growing mobile market, attracting around 6 millions new users per month.