Russian firm rumoured to be interested in buying Aircel

According to local sources in India, the Russian conglomerate Sistema is rumoured to be interested in buying Aircel for approximately $3 billion.

The unconfirmed reports state that Sistema is looking to buy a stake in Aircel’s Malaysian parent company Maxis Communications in order to take control of the Indian mobile network operator.

Sistema’s Indian unit, MTS India, lost its 2G licences in 21 circles in India in the Indian Supreme Court ruling in February, which saw a total of 122 mobile licences revoked.

It is thought that Sistema requires new spectrum by January in order to remain operating in the Indian market.

Aircel has denied the rumours.