India's Company Law Board (CLB), a quasi-judicial body that rules on corporate matters, has directed Unitech to decide by 19 March if it wants to acquire the 67.25 percent stake held by Norway-based Telenor in their joint venture Uninor or exit the company, writes The Economic Times. The CLB had earlier asked Telenor and Unitech Wireless to mediate to resolve their differences but the companies decided against it. Unitech declined to comment on the CLB's order. A Telenor spokesperson said that the company will wait for Unitech's response to the CLB. The spokesperson also said that given that Uninor's licenses have a limited validity of only three more months, Telenor hopes that there will be no further delays and a clear position will be stated on 19 March.
