Telenor Ups Stake In Uninor to 67%

By February 10th, 2010 AT 3:11 PM

Uninor today announced that it has received the fourth and final round of the planned fresh equity investment from the Telenor Group. With this the Telenor Group has invested a total of INR 61.2 billion of new equity into the company, taking its ownership to 67.25%.

Telenor Group’s investments into Uninor, the company will utilize this investment as working capital to strengthen its operations in the eight circles launched last year and launch operations in new circles in 2010, said Stein-Erik Vellan, Managing Director, Uninor.In December 2009 Uninor successfully launched its services in 8 circles named UP (West), UP (East), Bihar,Tamil Nadu, Karnataka, Kerala and Andhra Pradesh and Orissa, covering a footprint of more than 600 million.

As per our plans, this injection of equity will provide Uninor with working capital to continue the roll out of services in new circles, and to secure customer growth in the circles where Uninor is already available, said Sigve Brekke, Executive Vice President, and Head of Telenor Group Asian Operations. “I am very satisfied with the way Uninor services have been received amongst the mobile consumers in India .”

“I am very pleased with the progress that the Unitech Wireless business has made in the first two months of operations. The fresh equity investment from Telenor is as per the initial plan and will help the company continue to scale up operations,” said Sanjay Chandra, Managing Director, Unitech Limited.

The Cabinet Committee on Economic Affairs (CCEA) had approved Uninor’s application to increase its foreign shareholding up to 74% in 2009.

Leave a Reply

Photo and Image Files
6 Comment threads
0 Thread replies
Most reacted comment
Hottest comment thread
5 Comment authors
B.N. VENKATARAMUAvi HPrasath JSuchisuvra SenBhavesh Recent comment authors
newest oldest most voted

IS there any share holding pattern of the company with merger of the com
as TNUWL changed
why they have done so
no issues with merger of theri group co.,
it is only academic int to knwo
starting different name
changing to one com after some time
after infusion of full stake of telenor fund
is there any specific method benefit in doing this

Avi H
Avi H

Prasath J :

Bhavesh :
good Uninor ko fund mila to naye plan bhi aayega

Let us hope then Uninor to come without any call mole$ting charges or daily rent then…


Recent Posts

India-First Xiaomi Redmi 8A Confirmed to Launch on September 25 With 5000mAh Battery

Xiaomi Redmi 8A will be launching in India on September 25, the Chinese company confirmed on Twitter today. The Redmi...

Nokia 7.2 With 48MP Rear Camera, Snapdragon 660 SoC Launches in India: Price and Specifications

HMD Global has brought the Nokia 7.2 to the Indian market today. The Nokia 7.2 was launched at the IFA...

3GB Daily Data Prepaid Plans from Telcos Start at Rs 299: Jio Still Has the Pricing Edge

Telecom operators are bundling more data benefit with their prepaid plans to the customers. Very recently, we detailed the Rs...