Unitech sells majority stake in telecom arm to Telenor
October 29th, 2008 Leave a comment Visited 51 times, 1 so far today
Unitech sells majority stake in telecom arm to Telenor
India’s real state major Unitech has announced that they have now sold 60 per cent stake in its GSM mobile telecom arm to Norway-based Telenor.
The deal is worth around Rs 6,120 crore.
Incidentally, this is the second such deal in the Indian market after a similar signed between Swan-Etisalat.
The deal puts the worth of the Unitech Wireless company at around Rs 11,620 crore.
Unitech Wireless company board would now have four members from Telenor and three from Unitech.
The chairman of the company would be from Unitech. Telenor would appoint the managing director.
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