Telenor (Uninor) Signs Agreement with New Indian Partner – Lakshdeep Investments

By October 26th, 2012 AT 1:50 PM

Telenor which is operating Uninor GSM Mobile service in India, today said that its new wholly owned Indian entity, Telewings Communications Pvt. Ltd. (Telewings), signed a partnership agreement with Lakshdeep Investments & Finance Pvt. Ltd (Lakshdeep), a company controlled by Mr. Sudhir Valia. This is a financial investment by Mr. Valia in his personal capacity.

 

Lakshdeep will contribute an agreed amount of equity into Telewings. Upon successful participation in the upcoming spectrum auctions and post all required government approvals, Telenor Group will eventually own 74% of the joint venture. Telenor Group will maintain operational control and upon necessary approvals all assets of Unitech Wireless (Uninor) will be transferred to this company for seamless continuity of operations.

Telewings has already applied for pre-qualification to participate in the upcoming spectrum auction. A final decision on whether to participate or not will be made before the auction starts.

The existing partener Unitech’s shareholding in the Uninor joint-venture which it disposed for a nominal amount and also agreed to withdraw all claims and disputes between them as we shared on October 11th, 2012.

16
Leave a Reply

avatar
15 Comment threads
1 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
13 Comment authors
JagannathSaurabhtechfrickRajeshV.P.Guru Recent comment authors
newest oldest most voted
Jagannath
Jagannath

Accent of ‘Latele’= La-tele

Jagannath
Jagannath

‘Telenor’ and ‘Lakshdeep’. Name should be ‘Latele’…

Recent Posts

Best DTH Provider After New Trai Mandate: Tata Sky, Airtel Digital TV, D2h or Sun Direct?

The new direction regarding the prices in the TV industry passed by Trai last year took the DTH industry by...

Bharti Airtel Rs 100 and Rs 500 Talk Time Recharges are Back Again for Prepaid Users

The removal of talk time recharges from Vodafone Idea’s and Bharti Airtel’s portfolio was met with hostility by the subscribers....

BSNL Revises Rs 98 Prepaid Plan, Now Offers 2GB Daily Data and Eros Now Subscription

After reducing the validity of two voice-only prepaid plans of Rs 99 and Rs 319, BSNL has now revised its...