October 31, 2017 / 12:50 PM / a year ago

BRIEF-Russia's Sistema says completed merger of its Indian telecom business with Reliance

Oct 31 (Reuters) - Russia’s AFK Sistema says:

* Has completed the merger of its Indian telecommunications business with Reliance Communications Ltd (“RCom”), one of India’s leading telecommunications operators. The merger has been approved by all relevant Indian regulators and courts;

* As part of the transaction the telecommunications business of Sistema’s subsidiary, Sistema Shyam TeleServices Ltd. (“SSTL”), including its licenses and obligations with respect to the 800-850 MHz frequency range, has been transferred to RCom;

* SSTL now owns a 10 percent equity stake in RCom following a new share issue of the Indian operator;​ Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)

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