Sistema to acquire Aircel for $3 billion

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Sept 14, 2012: Russian telecom giant  Sistema JSFC is about to acquire a stake in Aircel Communication as confirmed by a close source associated with the development. The deal is expected to be worth $3 billion (Rs 16000-170000 crore) which is termed to be one of the largest telecom deal in the history after Vodafone-Hutchison Essar deal for $11.7 billion in 2007. According to the sources, Sistema will acquire a stake in the parent company of Aircel Communication which will transfer its rights of Indian operation after the restructuring process is completed.

However, the Aircel has denied of any such development and the Indian arm of Sistema responded that they are in talks with other mobile operators for a possible deal but their first priority would be seeking clarification of the much discussed spectrum regulation.

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