Telenor to enter the Indian mobile market
(29 October, 2008) Telenor announced its plans to enter the Indian mobile market at press conferences held in Dehli and in Oslo on Wednesday 29 October.
In conjunction with the company’s third quarter results presentation, President and CEO of Telenor Jon Fredrik Baksaas announced that Telenor has entered into an agreement to take a 60 per cent stake in Unitech Wireless in India.
“Gaining access to the world’s second largest mobile market is a major achievement for Telenor. Entering the Indian mobile market gives Telenor a unique opportunity to further enhance the Telenor Group’s position as one of the leading emerging markets operators, and enables us to take part in the development and growth opportunities in one of the fastest growing telecom markets in the world,” said Baksaas.
“We highly appreciate this partnership with Telenor, and believe that Unitech Group’s local position and strengths coupled with Telenor’s technical, operational and marketing expertise will form a winning team,” said Sanjay Chandra, Managing Director, Unitech Ltd. at a press conference in Dehli where he and Head of the Telenor Asia operations, Sigve Brekke were presents.
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| Sanjay Chandra, Managing Director, Unitech Ltd. and Sigve Brekke Executive Vice President and Head of the Telenor Asia operations signing the agreement |
Related information
Presentation material from the press conference in conjuntion with the third quarter results:
> Presentation: Telenor entering India (pdf)
> Webcast
> 3rd quarter 2008 investor kit
