Sistema might spend $1 bn more in search of profit

Sistema plans to spend as much as $1 billion more to expand in the Indian market. Sistema Shyam TeleServices Ltd plans to make the investment through 2015, with $415 million being spent this year, SSTL Chief Executive Officer Vsevolod Rozanov told reporters here today. That includes interest costs, capital expenditures, covering losses and possibly developing faster wireless services using LTE technology, he said.