Telenor Files for Full Ownership of India Unit
Norwegian telecoms group Telenor on Friday said it has sought the Indian government's approval to invest Rs 780 crore ($131.03 million; $1 = 59.5300 rupees) to acquire 100 per cent in its Indian mobile services unit, Uninor.
"At present, Telenor Group owns 74 per cent in its Indian business unit. These investments will be utilised to acquire the remaining stake held by Lakshdeep Investments as a financial investor," the company said in a statement.
Telenor's Indian unit has participated in two separate auctions to acquire spectrum in the range of 5 Mhz to 7.2 Mhz in seven circles that together represent more than half the country's population, the company said.
Copyright @ Thomson Reuters 2014
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