Sommer Time for Sistema
Remember Ron Sommer? A lot of German investors do -- he quit as CEO of DT in July 2002, following a 90 percent slump in the German carrier's share price during the "bubble" years of 2000 to 2002. (See Deutsche Telekom Gets Interim CEO.)
Well, he's back. Sommer has been appointed as a vice president at Russian conglomerate Sistema JSFC (London: SSA) and the head of its telecoms and media business.
That puts Sommer in charge of:
- Mobile operator Mobile TeleSystems OJSC (MTS) (NYSE: MBT), which has more than 93 million customers in Russia and multiple markets in Eastern Europe and EurAsia
- Russian fixed voice, broadband, and IPTV operator Comstar United Telesystems JSC (London: CMST), which has nearly 6 million customers
- Indian mobile startup Sistema Shyam TeleServices Ltd. , which is building out its CDMA network with Sistema's backing. (See MTS Reports Q1, Russia's MTS On M&A Trail, Comstar Reports Q1, Comstar Ends Capex Blowout, Sistema Adds to Shyam Stake, and A Guide to India's Telecom Market.)
Check out this New York Times article for more background on Sommer's spell as the head of Deutsche Telekom.
— Ray Le Maistre, International News Editor, Light Reading