Despite 2G issues, Telenor to invest Rs 2,000 crore in India

Telecom Lead India: Telenor Group is planning to invest
up to Rs 2,000 crore in the Indian telecom market. This is the despite the
uncertainties on the continuity of its mobile services after June 2.


Due to the February 2nd Supreme Court order, mobile
operators such as Loop, S Tel, Videocon, MTS India, Etisalat and Uninor will be
forced to stop services in India. Out of this, Loop, S Tel and Etisalat have
announced their exit plans.


Uninor is planning to invest Rs 2,000 crore in Indian at
a time when the mobile service provider is taking all steps to secure Rs 14,500
crore already pumped into Uninor, the joint venture with Indian realty firm
Unitech.



Uninor managing director Sigve Brekke said on Saturday that Telenor is
committed to continue the services with a new partner, replacing Delhi-based
Unitech.



Uninor is talks with four to five companies in India to find a strategic
partner, who is not a telecom operator and who is keen to have a long-term
commitment.



The new partner will have 26 percent stake in the company as Telenor has
decided to increase its equity from 67 percent to 74 percent.



With a 4.2 crore customer base, Uninor is the sixth largest telecom player in
India.


Uninor will focus on voice and will not participate in 4G and 3G auction for
now.



[email protected]

Latest

More like this
Related

AT&T faces scrutiny over cybersecurity spending following data breach impacting 109 mn

Telecom operator AT&T has disclosed a significant data breach...

TPG Telecom and Optus network sharing deal faces review in Australia

Australia’s competition watchdog, the Australian Competition and Consumer Commission...

Telecoms handle energy costs focusing on sustainability

European telecoms are adopting green initiatives and investing in...

Liberty Global considers selling stake in Swiss telecom unit Sunrise

Liberty Global is exploring the sale of a stake...