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Telenor acquires 49 pc stake in Unitech Wireless

Telenor acquires 49 pc stake in Unitech Wireless

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Norway's Telenor has acquired another 15.5 per cent stake in Unitech Wireless, the telecom arm of realty major Unitech, for Rs 1,130 crore (Rs 11.3 billion/$237 million), taking its shareholding in the Indian company to 49 per cent, it was announced on Wednesday.

"Unitech Wireless on May 19, 2009, received an amount of Rs 1,130 crore in aggregate from Telenor Asia Pte Ltd for acquisition of further 15.5 per cent stake in Unitech Wireless by way of issuance of fresh shares," the Indian telecom operator said in a regulatory statement.

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