Government okays Telenor’s plan to up stake in Unitech
October 19th, 2009 - 4:55 pm ICT by IANSNew Delhi, Oct 19 (IANS) The Cabinet Committee on Economic Affairs (CCEA) Monday approved Norwegian telecom major Telenor’s proposal to increase its stake in Unitech Wireless (Tamil Nadu) Ltd to 74 percent.
“This is subject to the conditions recommended by FIPB (Foreign Investment Promotion Board). The approval would result in FDI amounting to Rs.3,740 crore in the country,” Commerce Minister Anand Sharma told reporters here.
Unitech Wireless is a joint venture between India’s Unitech Group and Telenor. The Norwegian firm has invested in the joint venture through its Singapore-based subsidiary Telenor Asia.
At present, Telenor has 67.25 percent stake in Unitech Wireless.
- Telenor given green signal to up stake in Unitech (Lead) - Oct 19, 2009
- Telenor-Unitech case referred to international arbitration - Apr 12, 2012
- Company Law Board suggests mediation to Telenor, Unitech - Mar 01, 2012
- Eight foreign investment proposals cleared - Sep 03, 2009
- Telenor in talks with domestic firms to continue India service - Apr 20, 2012
- Income tax department attaches Unitech shares in Uninor - Mar 28, 2012
- Telenor asks Sanjay Chandra to step down as Unitech Wireless chief - Apr 20, 2011
- Telenor moves company law board to protect India investment - Feb 27, 2012
- Telenor plans Rs.2,000 crore investment in India - Apr 21, 2012
- Telenor's failure will hit India's image: Norwegian minister - May 12, 2012
- Unitech Wireless secures Rs.5,000 crore loan from SBI - Aug 18, 2009
- Telenor to form new company for India operations - Feb 21, 2012
- Contest Telenor's demand for compensation: Unitech - Feb 16, 2012
- Telenor to have greater stake in Unitech Wireless - Mar 17, 2009
- Hero Group arranges funds to acquire Hero Honda stakes - Mar 08, 2011
Tags: anand sharma, asia, cabinet committee, commerce minister, crore, economic affairs, foreign investment promotion board, India, investment promotion board, joint venture, New Delhi, norwegian firm, norwegian telecom, percent stake, proposal, singapore, subsidiary, tamil nadu, telenor, unitech group