MOSCOW (Reuters) - Russian conglomerate Sistema may invest up to $1 billion in India in 2013-2015, the head of its Indian mobile phone unit Sistema Shyam TeleServices, Vsevolod Rozanov, said on Tuesday.
The company also said it expects the unit to break even by the end of 2014 to the beginning of 2015 on an operating income, or OIBDA, basis, in all the nine regions in which it operates.
Sistema Shyam said earlier on Tuesday in a statement on its website that it recorded a full-year OIBDA loss of $271 million for 2012.
(Reporting By Anastasia Teterevleva; writing by Megan Davies; Editing by Lidia Kelly)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app