Support Telecomtalk
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Telenor-Norwegian telecom operator completed the acquisition of 49% stake in Unitech Wireless Ltd, the telecom arm of the realty firm, Unitech Ltd, by infusing additional investment of Rs 1,130 crore for an additional 15.5%. Telenor had earlier invested Rs 1,250 crore in the telco for a 33.5%.Last year, the Telemor had acquired up to 60% stake in Unitech Wireless for Rs 6,120 crore, which earlier this year they increased to 67.25% for the same amount. Now for completing the transaction beyond 49%, Telenor will have to seek the approval of the foreign investment promotion board (FIPB) as automatic foreign investment in the telecom sector is allowed only up to 49%.
Telenor was earlier expected to raise the Krone 12 billion from the rights issue. However, the company had to scrap the rights issue due to the global economic crisis. The money for the Unitech deal was then funded through a mix of debt and cash flows. Unitech Wireless is one of the five new mobile operators who are to start operations some time this year. Unitech Wireless has pan-India telecom licences in 22 circles. Telenor is a global provider of telecommunications, data and media communication servicesThje company has already awarded its IT contract to Wipro and mobile network contract to Huawei and Alcatel Lucent.
- Make Telecom Talk My Trusted Source
A small group of TelecomTalk readers helps keep this platform running. Support us if you find our work valuable.
Airtel Hikes Postpaid Tariffs by Rs 50 Across all Plans
IMC 2026: India Moving Towards End-to-End Telecom Value Chain, Shaping the Rules, Equipment and Innovation: Scindia
IMC 2026: Cost of 1 GB of Data Has Fallen from Rs 268 in 2014 to Rs 8 Now, Says Scindia
Airtel Removing Affordable Plans Did Not Result in Churn
Google and Unity Let AI Build Games
IMC 2026: Vi Business, Hindalco Partner to Deploy Private Network at Odisha Bauxite Mine
BSNL Unveils Vaani Upgrade, AI Security and Bharat Sandesh at IMC 2026
IMC 2026: Jio Plans Satellite Network to Connect Over 600,000 Villages, Maritime and Border Areas
