Unitech Wireless secures Rs.5,000 crore loan from SBI
August 18th, 2009 - 11:23 pm ICT by IANS
New Delhi, Aug 18 (IANS) Unitech Wireless has secured a loan of Rs.5,000 crore (about $1 billion) from State Bank of India (SBI) to fund its mobile network rollout, the company said Tuesday.
Unitech Wireless is a joint venture between Norwegian telecom giant Telenor and real estate major Unitech.
Unitech plans to roll out its services by December and has partnered with companies such as Wireless-TT Info Service Ltd, Quippo Telecom Infrastructure, Alcatel-Lucent, Wipro and Huawei Technologies India for infrastructure and managed services.
The company had sought the government’s approval to raise its foreign shareholding to 75 percent. But the government Tuesday deferred a decision on it.
Telenor currently has 67.25 percent stake in the joint venture.
- Telenor given green signal to up stake in Unitech (Lead) - Oct 19, 2009
- Alcatel bags $150 mn contract from Unitech Wireless - May 15, 2009
- Telenor asks Sanjay Chandra to step down as Unitech Wireless chief - Apr 20, 2011
- Telenor-Unitech case referred to international arbitration - Apr 12, 2012
- Telcordia bags five-year deal from Unitech Wireless - Jun 29, 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
- Company Law Board suggests mediation to Telenor, Unitech - Mar 01, 2012
- Telenor, Unitech move Company Law Board to protect interests (Lead) - Feb 27, 2012
- Arun Seth named chairman of Alcatel-Lucent in India - Jul 06, 2011
- Government okays Telenor's plan to up stake in Unitech - Oct 19, 2009
- Telenor moves company law board to protect India investment - Feb 27, 2012
- Telenor plans Rs.2,000 crore investment in India - Apr 21, 2012
- Percept Knorigin inks deal with Alcatel Lucent to provide digital content - Jun 01, 2011
- Telenor to form new company for India operations - Feb 21, 2012
Tags: alcatel lucent, bank of india, huawei technologies, joint venture, lucent, managed services, mobile network, network rollout, norwegian telecom, sbi, service ltd, shareholding, state bank, state bank of india, telecom giant, telecom infrastructure, telenor, tt info, unitech, wipro