Norwegian telecom firm Telenor's Indian arm is expected to break-even by the end of this year, a top official of the company has said.
"We expect to break-even by December-end," Telenor Group President and CEO Jon-Fredrik Baksaas told PTI.
Uninor, the Indian arm of Telenor Group, now offers services in six circles -- UP East, UP West, Bihar, Andhra Pradesh, Gujarat and Maharashtra. It had secured spectrum for these six circles in November auction for around Rs 4,018 crore. This price was around eight times higher compared to the what the company paid for 22 permits in 2008.
Uninor's 22 licences were among the 122 permits that were cancelled by a Supreme Court order in February last year.
The group is in the process of transferring assets to new entity Telewings in which Telenor has around 74 per cent stake.
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