Shyam Telelink (STL), a JV company between Russia's Sistema and Shyam Group, today said it has changed its name to Sistema Shyam TeleServices (SSTS).
"Sistema is the majority shareholder in this venture... As our name suggests, we envisage optimising this synergy of the two players from different countries with a clear-cut focus on becoming a strong telecom player in India," SSTS President and CEO Vsevolod Rozanov said in a statement.
SSTS is an integral and important part of the overall Sistema global expansion footprint, he added.
The name change was announced by the company following an EGM meeting where the decision for the transition from STL to SSTS was ratified, the statement said, adding that the company has shifted its principal office to Gurgaon.
"We are going full-stream with our pan-India rollout strategy as we plan to add to existing operations in the Rajasthan circle with the launch of around five more circles in the coming months," Rozanov said.
The company had earlier announced a strategic tie-up with Russia's Mobile TeleSystems OJSC to bring MTS, the largest mobile phone operator in Russia and the CIS to India.
Under the terms of agreement, Shyam Telelink will have the right to use the MTS brand in all its marketing communications and advertising in India.
SSTS has licences and spectrum to provide mobile telephony services on CDMA platform in all 22 circles across the country. It has already launched its CDMA mobile services in the Rajasthan circle under the brand name "Rainbow".
