Cellular company, Uninor, on Friday said that it has not slowed down after the Supreme Court order which asked for cancellation of its licence along with other telecom operators after the 2G spectrum allocation scam. The company said that even as it has filed an interim application with the apex court seeking 2G spectrum auction by June 2, the time by which the court has asked for cancellation of spectrum licences, it is however, rapidly expanding and will reach the break-even point by 2013. Sigve Brekke, managing director, Uninor, told
The Indian Express here on Friday, that the Prime Minister of Norway, Jens Stoltenberg, has spoken to Prime Minister Manmohan Singh, over the issue last week on the sidelines of the Seoul nuclear summit urging that the Norweign interests be protected after the court order. Uninor is a joint venture between Norway-based Telenor Group and Indian real-estate company, Unitech.
Brekke said that Uninor is planning expansion in a major way and aims to raise its subscriber base from 40 lakh to 1 crore. Uninor is rooting for 2G auction before the licence cancellation date to stay in business. Brekke said that the Supreme Court in its February order asked the government to cancel the 2G licences by
June 2, but the government has told the SC that it will take at least 400 days for the completion of auction of the 2G spectrum licences.
Brekke, however, said that instead of withdrawing from carrying out the business in India, Telenor, which is a major shareholder of Uninor, is separating with its Indian partner, Unitech, to diversify its business in the country. The issue of separation of the two companies is pending before the company law board, he added. Brekke said Telenor is trying to strike a deal with other companies in India as it wants to enter into a partnership agreement with them. The company, is however, intending to increase the stake in Uninor from the current 67 per cent to 74 per cent.
Officials said the new company after the break up with Unitech would have been formed by May to get the 2G spectrum allocated. “There are already some Indian players who have expressed the interest to partner with us,” Brekke said. Company officials further said Telenor is separating from Unitech after differences over the mode of investment in the company for expansion with Telenor pressing for equity share in the wake of refusal by the banks in India to finance the company’s investment plans following the alleged 2G scam.
Uninor has meanwhile, also asked the central government to refund it with the licence fee with the company having made an investment of Rs 1,658 crore on the licence and purchase of 2G spectrum in 2008.
Brekke added that the company is discussing the possibility of re-branding its product offering as part of the seperation plan with Unitech.
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The Indian Express here on Friday, that the Prime Minister of Norway, Jens Stoltenberg, has spoken to Prime Minister Manmohan Singh, over the issue last week on the sidelines of the Seoul nuclear summit urging that the Norweign interests be protected after the court order. Uninor is a joint venture between Norway-based Telenor Group and Indian real-estate company, Unitech.
Brekke said that Uninor is planning expansion in a major way and aims to raise its subscriber base from 40 lakh to 1 crore. Uninor is rooting for 2G auction before the licence cancellation date to stay in business. Brekke said that the Supreme Court in its February order asked the government to cancel the 2G licences by
June 2, but the government has told the SC that it will take at least 400 days for the completion of auction of the 2G spectrum licences.
Brekke, however, said that instead of withdrawing from carrying out the business in India, Telenor, which is a major shareholder of Uninor, is separating with its Indian partner, Unitech, to diversify its business in the country. The issue of separation of the two companies is pending before the company law board, he added. Brekke said Telenor is trying to strike a deal with other companies in India as it wants to enter into a partnership agreement with them. The company, is however, intending to increase the stake in Uninor from the current 67 per cent to 74 per cent.
Officials said the new company after the break up with Unitech would have been formed by May to get the 2G spectrum allocated. “There are already some Indian players who have expressed the interest to partner with us,” Brekke said. Company officials further said Telenor is separating from Unitech after differences over the mode of investment in the company for expansion with Telenor pressing for equity share in the wake of refusal by the banks in India to finance the company’s investment plans following the alleged 2G scam.
Uninor has meanwhile, also asked the central government to refund it with the licence fee with the company having made an investment of Rs 1,658 crore on the licence and purchase of 2G spectrum in 2008.
Brekke added that the company is discussing the possibility of re-branding its product offering as part of the seperation plan with Unitech.
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