STF na MÃdia - MyClipp
STF na MÃdia - MyClipp
STF na MÃdia - MyClipp
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Business Line/ - Markets, Dom, 01 de Abril de 2012<br />
CLIPPING INTERNACIONAL (Supreme Court)<br />
MTS to develop mobile app store for its<br />
customers<br />
New Delhi, April 1:<br />
Notwithstanding cancellation of its 21 licences by<br />
Supreme Court, CDMA mobile service provider MTS<br />
India is expanding its business and now looking to<br />
partner with software and application vendors to<br />
develop an application store for its subscribers.<br />
“Everyone is launching phones but no one is creating<br />
awareness on the use of internet on phone. We want<br />
to work on the eco-system around smartphones and<br />
provide applications specifically to be used by MTS<br />
customers,” Chief Operating Officer Mr Shankar Bali<br />
for Delhi NCR and Harya<strong>na</strong> Circle at MTS India told<br />
PTI.<br />
Sistema Shyam TeleServices Limited (SSTL)<br />
<strong>na</strong>tio<strong>na</strong>lly operates its telecom services under the MTS<br />
brand.<br />
Mr Bali said that MTS India will partner with application<br />
service provider to develop applications for its<br />
customers.<br />
MTS recently announced its partnership with software<br />
application provider 4Moles for a golf tour<strong>na</strong>ment.<br />
SSTL is a venture involving equity participation by<br />
Sistema of Russia, the Russian Federation and the<br />
Shyam Group of India. Sistema holds 56.68 per cent<br />
stake, Russian Federation holds 17.14 per cent stake<br />
and Shyam Telelink has around 24 per cent stake in<br />
the company.<br />
Last week, SSTL held an Extraordi<strong>na</strong>ry General<br />
Meeting (EGM) which passed resolution to double its<br />
its authorised capital from Rs 6,000 crore to Rs 12,000<br />
crore (approximately $2.36 billion) by issuing<br />
Non-Convertible Redeemable Preference Shares to<br />
the extent of Rs 6,000 crore.<br />
Its licences figure among the 122 2G licences<br />
cancelled by the Supreme Court in February. SSTL<br />
had, however, expressed its intention to stay in the<br />
country and bid for spectrum in the auction, to be held<br />
by the government, as directed by the apex court.<br />
Even after Supreme Court’s order, SSTL added<br />
2,32,557 customers in the month of February 2012,<br />
taking its total customer base to 15.43 million.<br />
The parent company Sistema JSFC has sent a formal<br />
notice to Indian Government notifying it of a dispute<br />
under the Bilateral Investment Treaty (BIT) between<br />
the Russian Federation and India arising from the<br />
decision of the Supreme Court of India issued on<br />
February 2, 2012 regarding the cancellation of 122<br />
telecom licences.<br />
The Indian government is learnt to have responded to<br />
the notice assuring the firm that it will take all possible<br />
steps to protect foreign investments in the country.<br />
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