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Russia's Sistema Ready to Seek Legal Action to Recover Indian GSM Licenses
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Russia's Sistema is now cleared to seek a legal review of the cancellation of the GSM licenses held by its Indian subsidiary, SSTL - which trades as MTS India.
The company had said that it would seek a legal review of the Supreme Court's decision to cancel the licenses under a bi-lateral treaty between India and Russia, but had not persued the matter so far.
"Legal constraint was one (reason) we couldn't start the proceedings against government earlier than six months after the notice. Now, technically we can start legal proceedings anytime," SSTL's President and CEO Vsevolod Rozanov told local media.
Rozanov said the government has expressed its willingness to resolve the issue amicably but SSTL is yet to see "specifics" of the proposed solution.
Sistema owns 57% of the Indian joint-venture, which along with many other 2008 licensees, was awarded its GSM licenses before then seeking foreign investment to fund the network rollout.
The company says that it has invested over US$3 billion in the network, and will have to bid in the upcoming license auctions for the GSM and CDMA radio licenses.
Tags: [sistema] [sstl] [India]
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