The Russian government will acquire a 19.8 per cent stake in Sistema-Shyam Teleservices Ltd for $676 million (around Rs 3,150 crore). Sistema-Shyam is a joint venture between Russia’s Sistema and India’s Shyam group. New shares will be issued for the stake sale. Subsequently, Sistema’s stake in the joint venture will come down to 54.2 per cent, while the Shyam group will continue to hold 23.5 per cent equity. The approval to the fresh equity issue was given at an extraordinary general meeting of the company here. […]

Hedge fund DE Shaw has sold a 36 percent stake in a property trust floated by the founders of Indian developer DLF Ltd for $500 million, Indian newspapers reported on Friday. DE Shaw sold the stake to the promoters of DLF Assets Ltd, but still has a 4 percent stake which it plans to sell when the property trust is listed in Singapore, the Economic Times said citing a fund manager with knowledge of the development. A spokesman for DLF declined to comment on the report, and officials at DE Shaw could not immediately be reached. […]