Telenor Allowed to up stake in Unitech
Foreign Investment Promotion Board (FIPB) is believed to have cleared to proposal for Norwegian Telecom firm Telenor to hike its stake in its Indian Telecom joint venture Unitech Wireless, the two month wait for telenor has now came to an end.
Telenor ASA completed acquisition of 67.25% stake in the JV with Unitech Wireless in march. Later Telenor wanted to rise their stake to 74% – Its the limit of investment by a foreign company in an Indian firm.
No related posts.
Tags: telecom firm india, telenor, telenor unitech