Telecom operator Uninor will draw up state-wise business development plans before the 2G auctions for the 122 licences that were cancelled in February this year. This move comes after the company announced its decision to prioritise investments and expansion in nine circles after pulling out of four circles, mostly in South India.
Uninor, a joint venture between Norwegian telecom operator Telenor and Indian real-estate firm Unitech, wants to sever ties with its Unitech, find a new partner and form a new company before the 2G auction kicks off to bid for the licences .
The Norwegian firm wants to increase its stake in the new firm to 76% from the existing 67.5%. "We have finalised a fistful of Indian business houses who are not associated with the telecom business and who are acceptable with owning 24% in the new firm (sic)," Uninor managing director Sigve Brekke said. He said that Telenor will finalise its partner shortly.
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Uninor, a joint venture between Norwegian telecom operator Telenor and Indian real-estate firm Unitech, wants to sever ties with its Unitech, find a new partner and form a new company before the 2G auction kicks off to bid for the licences .
The Norwegian firm wants to increase its stake in the new firm to 76% from the existing 67.5%. "We have finalised a fistful of Indian business houses who are not associated with the telecom business and who are acceptable with owning 24% in the new firm (sic)," Uninor managing director Sigve Brekke said. He said that Telenor will finalise its partner shortly.
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