Telenor total stake buy in Unitech Wireless is 67.25%
Posted by Adgully Bureau | February 11th, 2010 at 12:38 pm
Norway’s Telenor ASA, recently, in its fourth round of investment in Unitech Wireless Pvt. Ltd – - an Indian telecom firm, invested Rs 2,022 crore. Now, Telenor total holding in Unitech is 67.25 per cent.
Posted by Adgully Bureau | February 11th, 2010 at 12:38 pm
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Telenor Group – it provides telecommunication services in 14 countries across Europe and Asia. Last month, the company said it has increased its holding in the telecom firm to 60.1 per cent.
Unitech Ltd – it is a realty firm and also a founder Unitech Wirless, which holds the remaining stake in the firm. As per media reports, Unitech confirmed the investment made by Telenor and said, “The telecom firm received the money on Wednesday i.e. February 10 for acquisition of the final 7.15 per cent by Telenor.
In the meantime, Telenor last day reported a 27 per cent growth in net income at 2.49 billion kroner ($423 million) for the fourth quarter of 2009.
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