Telenor Group completes 100% ownership of Telewings in India

By October 17th, 2014 AT 5:53 PM

Telenor Group announced today that it has completed the acquisition of the 26 per cent ownership stake in Telewings, held by Lakshdeep Investment & Finance. As a result, Telenor now takes full ownership of the company that operates under the brand name Uninor. The process was finalized after Telenor received approval from the Indian government’s Foreign Investment Promotion Board (FIPB) to increase its stake from 74 per cent to 100 per cent.

uninor-india

Telewings’ revenues in the first half of 2014 compared to the same period last year have increased by more than 40 per cent. Earlier this year, the company expanded its service portfolio from voice to basic internet services. Close to 20 per cent of the company’s subscribers are now active internet users.

Telenor’s Indian arm is present in seven circles with a total population of around 600 million people. The company has participated in two separate auctions to acquire spectrum in the range of 5 Mhz to 7.2 MHz in seven circles. With a network of more than 1,500 stores and 365,000 points of sale, Telewings has the second largest distribution network in its operating circles. The company will also launch services in Assam early next year.

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Tonpe VijaykrishSudhakarEsmailXyz Recent comment authors
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Tonpe Vijay
Tonpe Vijay

very poor customer service in my town in MH . i have given my documents for MNP to retailer for 10 days he never submited my caf when asked about same he told that system is down please visit uninor store on mullabada rd. when asked about problem he said to take new sim from him by paying 30 rs extra.and forget about the sim got from earlier retailer. i said ok. after 7 days passed nothing happened. so i went to vodafone mini store submited caf and documents after 5 days happily ported to vodafone.so cheap companies like uninor… Read more »

Esmail
Esmail

Telenor finds the base price of 1800MHz spectrum being put up for sale in the next round of auctions to be high after DOT decided to add a 10% premium on the winning bid price from the last sale of airwaves. Telenor said if the base price is not cut down it will refrain from participating in the auctions and concentrate on expanding services in the 7 circles where they currently hold spectrum and license to operate.

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