Telenor signs agreement with new Indian partner

Telenor Group has on 26 October 2012, through its new wholly owned Indian entity, Telewings Communications Pvt. Ltd. (Telewings), signed a partnership agreement with Lakshdeep Investments & Finance Pvt. Ltd (Lakshdeep), a company controlled by Mr. Sudhir Valia. This is a financial investment by Mr. Valia in his personal capacity.

Published: 26 October 2012 10:06

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Lakshdeep will contribute an agreed amount of equity into Telewings. Upon successful participation in the upcoming spectrum auctions and post all required government approvals, Telenor Group will eventually own 74% of the joint venture. Telenor Group will maintain operational control and upon necessary approvals all assets of Unitech Wireless (Uninor) will be transferred to this company for seamless continuity of operations.

Telewings has already applied for prequalification to participate in the upcoming spectrum auction. A final decision on whether to participate or not will be made before the auction starts.

Contacts:

Glenn Mandelid, Telenor Asia,Tel.: +668 2440 1122
e-mail: glenn.mandelid@telenor.com

Tor Odland, Group Communications, Tel: +47 9909 0872,
E-mail: tor.odland@telenor.com