Telenor Accuses And Unitech Disposes: Govt. To Blame?

Unitech has clarified its stand against the accusations by its Norwegian partner Telenor in their Joint Venture Uninor.

In light of the Govt. acting dictatorial & cancelling all Universal Access Service (UAS) licenses, Telenor had blamed Unitech for the resultant cancellation of 22 licenses held by their telecom JV Uninor. Telenor also demanded indemnity and compensation.

Unitech on the other hand has simply chosen to pass the blame on to the Govt. “The Supreme Court has cancelled all the UAS licenses and spectrum granted on and after January 10, 2008, and has raised multiple questions on the government policy which in no manner can be considered as breach of warranties on the part of Unitech Ltd,” In other words, since Govt. has taken a stand, the licenses got cancelled & Unitech should not be the one to blame.

The Telenor – Unitech Marriage has never been a cake-walk. Telenor wanted to place its company in the hands of the common men & women who would lift the company through the proposed Initial Public Offering (IPO). But Unitech insisted in going the safer Bank Debt route to fund the growth. Telenor is preparing to get another partner (Rumored to be Aircel). The current fiasco appears to be one of many brewing just below the surface now that the Govt. simply chose to start afresh!

Do you think Telenor is right or it merely wants to pick a squabble with Unitech?

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