A joint venture company of India-based Shyam Group and Russian telecom giant Sistema, Shyam Telelink Ltd will now be called Sistema Shyam Teleservices (SSTS).The company on Friday (January 23) announced the change of name. Commenting on this, SSTS president and chief executive Vsevolod Rozanov said that the name has been altered as both Sistema and Shyam Group own shares in the company, with former being the major shareholder.

 

The joint venture company of two different companies from two different nations aims to become a strong telecom player in India, he added. While informing about the future plans of the telecom company, Rozanov said that SSTS has decided to add to existing operations in the Rajasthan circle with the launch of around five more circles in the coming months. SSTS has licenses and spectrum to provide mobile telephony services on the CDMA platform in all 22 circles across the country.

 

India's Shyam Group is engaged in diversified businesses including telecom, manufacturing, services and fertilizer. On the other hand, Sistema is the largest public diversified corporation in Russia and the CIS. The telecom giant manages fast growing companies operating in the telecommunications, consumer services and technology sectors. The Russian company has over 100 million customers.