Sistema Mulls $1Bln India Investment

Sistema will invest up to $1 billion in India in 2013-15, the head of its Indian mobile phone unit Sistema Shyam TeleServices, Vsevolod Rozanov, said Tuesday.

The company also said it expected the unit to break even by the end of 2014 to the beginning of 2015 on operating income, or OIBDA, basis, in all nine regions in which it operated.

Sistema Shyam said earlier on Tuesday in a statement on its website that it recorded a full-year OIBDA loss of $271 million for 2012.

(Reuters)