  The Russian government is reportedly considering to bail out Sistema group billionaire Vladimir Yevtushenkov by buying upto 20 percent stake in Sistema’s India operations, Sistema Shyam Teleservices.
The development is reported by Kommersant which states that the Russian draft budget for 2009 shows the government setting aside 23.7 billion rubles (USD 680 million, 525 million euros).
Post deal, Sistema will transfer 20 percent of its total 73 percent in the Indian JV to the Russian government, says the report.
Kommersant also adds that the deal is part of Russian government’s plans to settle New Delhi'''s outstanding Soviet-era debt to Moscow. |