Telenor, a Norway-based international telecommunication service provider has entered in to a definitive long-term partnership with Unitech Wireless to provide a pan-India telecom services.
As per the agreement, Telenor will invest over Rs 6,120 crore to acquire 60 percent stake in Unitech Wireless, which is subject to regulatory approvals.
The transaction has put the total value of the company at Rs 11,620 crore. Unitech Wireless has pan-India telecommunications licenses in all 22 circles and plans to launch its service in first half of 2009.
The company has already recruited more than 250 employees and it has established offices across several cities.
6 months ago