TELENOR UNITECH DEAL COMPLETED

By May 22nd, 2009 AT 11:55 AM

telenor-unitechTelenor-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.

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rohit guptadharmesh koshtiJayendraAnimesh MishraRANJIT CHOUWDHARY Recent comment authors
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rohit gupta
rohit gupta

Respected Sir,
My name is Rohit Gupta. I am perusing PGDIB from ishan institute of management & technology at greater Noida.
I want to join Unitech Wireless company so plaese suggested me , how I apply or join you.
plz contact me on this number
Thanks,
rohit gupta
8010626745

dharmesh koshti
dharmesh koshti

Respected Sir,
My name is dharmesh koshti.Currently working with Magus Customer Dialog Pvt. Ltd., as a Sr.Customer Service Associate from last 3 years in Ahmadabad. Ltd Ahmedabad as post of front desk customer care service.
I want to join Unitech Wireless company so please suggest,how can i apply or join you.
pls, concider me & contact to this no
Thanks,
dharmesh m koshti
9978440460 9824374968

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