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Follow UsMUMBAI, INDIA: Shyam Telelink Limited, a provider in telecom services for the Indian market, today formally announced the change of its name from Shyam Telelink Limited to Sistema Shyam TeleServices (SSTS).
The name change was announced by the company following an EGM meeting where the decision for the transition from STL to SSTS was ratified, said a press release.
Sistema Shyam TeleServices is a joint venture between Sistema of Russia and Shyam Group of India.
“Sistema is the majority shareholder in this venture with Shyam Group being the other partner. As our name suggests, we envisage optimizing this synergy of two players from different countries with a clear cut focus on becoming a strong telecom player in India,” said Vsevolod Rozanov, president and CEO, Sistema Shyam TeleServices.
He added that SSTS is an integral and important part of the overall Sistema global expansion footprint.
As part of its fast-paced growth plans as also to meet business requirements, SSTS shifted to a new principal office in Gurgaon, which is in the Delhi-NCR region in India.
The new office was inaugurated in the presence of senior officials from Sistema, Shyam Group, and SSTS. The new SSTS office houses modern facilities to conduct business in the most efficient manner, said the release.
“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,” commented Rozanov.
Earlier, SSTS had announced a strategic tie-up with Mobile TeleSystems OJSC of Russia that will bring the brand MTS to India.
In April 2008, MTS brand was recognized as one of the BRANDZ Top 100 Most Powerful Brands, a ranking published by the Financial Times and Millward Brown, a leading global market research and consulting firm, said the release.
Under the terms of the agreement, SSTS will have the right to use the MTS brand in all its marketing communication and advertising in India, the release added.