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Following the Supreme Court ruling in India wherein it revoked 122 2G licences, telecommunications company Telenor has turned towards the government in Norway to help protect the future of its US$ 2.9 billion investment in India. Telenor controls a 67.25 per cent equity stake in Unitech Wireless and offers nation-wide mobile services under the brand name Uninor.
Following the Supreme Court ruling in India wherein it revoked 122 2G licences, telecommunications company Telenor has turned towards the government in Norway to help protect the future of its US$ 2.9 billion investment in India. Telenor controls a 67.25 per cent equity stake in Unitech Wireless and offers nation-wide mobile services under the brand name Uninor.
According to reports, Rigmor Aasrud, IT Minister, Norway met with India’s Telecom Minister Kapil Sibal
to arrive at Telenor’s future in the country following the cancellation
of the licences. After the meeting Aasrud said that they had a good,
fruitful and constructive meeting with the telecom minister and they
took up Telenor’s case along with other issues.
Kapil Sibal stated that both the IT
minister and the Telenor official met him to share their perceptions and
they had a dialogue on this issue. He told them that the SC verdict
will bring clarity to the sector, the sector is robust and enough
spectrum is available. Further, the National Telecom Policy 2011 which will be put out will be fair and robust.
Sibal added that India’s market is full of opportunities and no-one should be in doubt on the investments to come into India.
Sigve Brekke , managing director,
Uninor has said that they are talking to the government because they
need to protect their investment and they also need to make sure that
there is a framework for continuing their operations in the country.
Source: http://wirelessfederation.com/news/91322-telenor-seeks-help-from-norway-to-protect-indian-investment-norway-india/
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