Now, Sistema threatens to pull out
Russian conglomerate Sistema, majority shareholder in Shyam Sistema, has threatened to walk out of India if the government accepts Trai's suggestion to increase the reserve price for spectrum auction by over 10 times. "If the government rubber stamps Trai's recommendations , we will pull out. We are not ready to participate," said Andrey Terebenin, member of Sistema's executive board, who is in India to discuss the regulator's prescriptions with the government.