Telenor implements 1st part of India deal
reuters
OSLO, March 20
Norwegian telecom group Telenor invested an initial Rs 1,260 crore in Indian operator Unitech Wireless for a 33.5 per cent stake and will inject the remaining Rs 4,889 crore in three tranches this year, Telenor said on Friday. Once the Rs 6,048 crore deal is completed, Telenor will own 67.25 per cent of Unitech Wireless, as announced earlier.
Telenor unveiled the deal to buy a majority of Unitech Wireless from Indian property company Unitech in October.
