Shyam Telelink, which was in advanced stages of negotiations with Korea Telecom for sale of equity, has called off the deal due to differences over enterprise valuation. Shyam Telelink, which has been keen to rope in a strategic investor to fund its expansion beyond Rajasthan, had revenues of over Rs 1.6 billion in financial year 2005. The company is readying for listing on the bourses, a part of an arrangement approved by the company board to unlock shareholder value. Shyam Telecom, which is currently a holding company for Shyam Telecom Manufacturing and Shyam Telelink, will have separate listed entities for its manufacturing and services businesses.
