| The company plans to invest between $500 million and $1 billion in the country to set up wireless networks offering GSM mobile services, third generation networks, and Wi-Max technology based wireless broadband services. |
| Koshkin Sergey, a director on the company's board, told Business Standard that Russian President Vladimir Putin was slated to meet Communications Minister Dayanidhi Maran "to lobby for Summa Telecom's entry into India." |
| "India is the fastest growing telecom market in the world. It has been on our radar for sometime now. We want to offer GSM, 3G, Wi-Max and broadband services and we are ready to invest $500 million to $1 billion in India over the next one or two years in the creation of wireless networks," Sergey said. |
| Summa Telecom is part of Russia's Summa Holdings and a new entrant in its home market. It was founded in June 2005 in Moscow. |
| According to published material on the Internet, the holding company's principal activity is "systemic integration," starting with the oil and gas industry. |
| Summa Telecom was granted a Wi-Max licence in September 2006, the only company to have a national licence for this service in Russia, and aims to provide communication services in all regions of the federation. |
| Summa Telecom is preparing the ground for its entry by registering in India. |
| The company can have a maximum of 74 per cent stake of the paid-up equity capital in an Indian operation, with the remaining 24 per cent being held by an Indian company. |
| Sergey said Summa was in talks with some Indian telecom players. |
| "We want to convince the government that we want a serious Indian partner to offer 3G and Wi-Max services. Summa Telecom is in talks with many Indian firms. We want to choose the best partner," he added. |
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