Telenor Picks Up 60% In Unitech Wireless for 1.07 B $

By Rajiv Dingra • October 30, 2008

(1 votes, average: 4 out of 5)

Loading ...

Email It!

It seems like Unitech wireless has been up for sale for quite sometime now and finally someone seems to have bought into the telecom firm which has a pan india telecom license and spectrum in 13 cities.

Unitech which was earlier rumoured to have sold off 26% to Telenor and then reported to have sold 49% to Telecom Italia has finally sold 60% to Telenor for $1.07 Billion!

The deal would happen in tranches with the first tranche of 20 %, Telenor expects to acquire the entire 60 per cent stake by September 2009. The deal would be funded via a rights issue of about 12 billion Norwegian Kroner (about $1.7 billion).

Unitech Wireless would pump-in $3 billion (about Rs 14,700 crore) investment over the next three years to roll-out operations. More on this here.

Bookmark this post to:

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Del.icio.us

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to digg

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to FURL

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to blinklist

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to reddit

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Technorati

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Yahoo My Web

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Newsvine

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Stumble Upon

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Rojo

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Bloglines

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Tailrank

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to FaceBook

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to MySpace

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to IndianPad

Add 'Telenor Picks Up 60% In Unitech Wireless for 1.07 B $' to Twitter

Categories: Acquisitions, Mobile, News
Tags: 3G, 60% stake, Acquisitions, spectrum, telenor, unitech, wireless

About the Author

Rajiv Dingra

Rajiv is a prolific blogger who has over 1000 blog posts to his credit at WATBlog. The Founder & CEO of WATMedia our parent company and the Chief Blogger at WATBlog, he has been the driving force of the WAT Evolution. Rajiv does some excellent analysis of the digital media industry in India and often brings out deep insights with his inimitable style of interviewing. Just mail rajiv|at|watblog|dot|com and it will reach him..