Telenor’s failure will hit India’s image: Norwegian ministerMay 12th, 2012 - 11:35 pm ICT by IANS
New Delhi, May 12 (IANS) The failure of Telenor’s $3-billion investment in subsidiary Uninor will not only impact India’s investment destination image but will also have political repercussions, Norway’s Trade Minister Trond Giske said here Saturday.
“If this investment fails, I think, it will be fair to say that it will influence the view of India as an investment country,” Giske told reporters.
“Telenor is not just any company. 54 percent of its shares are owned by Norwegians through the state and, thus, it has further political implications.”
Telenor lost 22 2G spectrum licences when Supreme Court, in its Feb 2 ruling, cancelled 122 such licences issued during telecom minister A. Raja’s tenure.
Telenor has a 67.25 percent stake in Uninor.
The Norwegian minister also met Planning Commission Deputy Chairman Montek Singh Ahluwalia and discussed the issue.
He also met the company’s employees here along with Telenor chief executive Fredrik Baksaas and Uninor managing director Sigve Brekke.
Giske said Norway and India had strong bilateral relations which can handle challenges.
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- Norwegian minister meets Sibal, discusses Telenor issue (Lead) - Feb 07, 2012
- Telenor confident of roping in new partner before auction - May 31, 2012
- Norwegian minister meets Sibal, discusses Telenor issue - Feb 07, 2012
- Telenor plans Rs.2,000 crore investment in India - Apr 21, 2012
- Telenor won't quit India, Norway monitoring situation - Feb 03, 2012
- 2G re-auction should be among 2008 licencees: Uninor (Lead) - Feb 06, 2012
- 2G auction should be among 2008 licencees: Uninor (Second Lead, superseding earlier story) - Feb 06, 2012
- Telenor to write down $724.5 mn investments in Uninor - Feb 04, 2012
- Court modifies CLB order on Unitech auction - Aug 06, 2012
- Norway intervenes to protect Telenor's $3 bn India investment (Roundup) - Feb 06, 2012
- Company Law Board suggests mediation to Telenor, Unitech - Mar 01, 2012
- Telenor-Unitech case referred to international arbitration - Apr 12, 2012
- Telenor's India unit posts $806mn quarterly loss - May 08, 2012
- Income tax department attaches Unitech shares in Uninor - Mar 28, 2012
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