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- 5:32 AM - 0 comments

Unitech Wireless to sell its 60% to Telenor

Unitech announced that Norway-based Telenor has entered into a definitive agreement with Unitech and its telecom companies (Unitech Wireless) whereby Telenor will invest over Rs 61.2 billion to subscribe to new shares in Unitech Wireless, resulting in an enterprise value of Rs 116.2 billion.


Subject to the regulatory approvals, Telenor will hold upto 60% stake in Unitech Wireless.


This alliance will benefit from Telenor`s substantial experience in both high growth and mature telecom markets and Unitech`s proven track record and reputation as one of India`s most respected business groups.

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