Telenor announced that it has made its first  payment amounting Rs 1,250 crore as part f the agreement struck with Unitech Wireless. Telenor’s first phase of investment reflects 33.25 percent stake in Unitech. It is entitled to have 67.25 percent stake as per its deal agreement with Unitech.

"We are happy...with the first phase of investment coming in, the Telenor-Unitech Wireless deal is complete and now we look forward to building a world-class mobile company together,” said Unitech Wireless Chairman, Sanjay Chandra.