Telenor writes off remaining Indian stake

Monday 30 April 2012 | 08:53 CET | News
Telenor is writing off the remaining value of its stake in Indian mobile operator Uninor. This follows the Supreme Court's ruling in February to cancel Uninor's licences and the recent recommendation from the Telecom Regulatory Authority of India to sharply increase the price of the licences when they are re-auctioned. Telenor said that if the Trai recommendation in its current form should be approved by the Department of Telecommunications, it will be "almost impossible" to participate in the auction. The company said it's lobbying Indian authorities to amend the proposal. As a precautionary

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Categories: Mobile & Wireless
Companies: Telenor / TRAI / Uninor
Countries: India
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