Unitech Wireless offloads
60 percent stake in Norwegian firm
Delhi, Oct 29 (IANS) Norwegian telecom giant Telenor has picked
up a controlling 60 percent stake in Unitech Wireless, the
telecom arm of real estate major Unitech Ltd.
a regulatory statement Wednesday, Unitech said Telenor will
invest about Rs.61.2 billion (Rs.6,120 crore) in Unitech Wireless,
thereby resulting in an enterprise value - the market worth
of a company - of Rs.116.20 billion (Rs.11,620 crore).
Wireless has a pan-India licence for 22 telecom circles and
plans to launch its services next year.
has operations in Pakistan and Bangladesh and is the second
largest non-Asian operator in Asia after Vodafone.
Unitech Group is the country's leading real estate developer
with operations across India.