Norwegian mobile operator Telenor has upped its stake in Unitech Wireless, the telecom leg of Unitech Ltd., by 15.5 percent to reach 49 percent, with a further investment of $237.3 million.

This is a part of the process of selling off a 67.25 percent stake in Unitech Wireless to Telenor for $1.2 billion.

Furthermore, an additional 2.4 billion rupees has also been offered to Unitech to uphold Telenor’s stake at 49 percent after the Indian firm converted bonds into shares for another shareholder, the statement said

The sum was received by eight units of Unitech Wireless.