The Russian government is likely to buy about 20 per cent stake in telecom service provider Sistema Shyam for a little over Rs 34.32 billion.

The Russian government is likely to buy about 20 per cent stake in telecom service provider Sistema Shyam for a little over Rs 34.32 billion. The deal values Sistema Shyam at about Rs 171.6 billion. Sistema, one of the largest public diversified corporations in Russia and the Commonwealth of Independent States, has a 74 per cent stake in the joint venture (JV) with the Shyam Group. Following the stake sale, Sistema’s holding in the JV will come down to about 54 per cent while there will be no changes in the shareholding of Shyam, which will continue to have 26 per cent equity.