 Norwegian firm, Telenor increased stake in its Indian joint venture with Unitech Wireless from 49% to 60.1% for Rs 1,493 crore.
The payment is the third tranche for 11.1% stake increase in Unitech. As per the deal with Unitech, Telenor can have stake upto 67.25% in Unitech Wireless.
According to Telenor, taking into account 33.5 per cent stake bought by it in the first phase by investing Rs 1,250 crore and another Rs 1,130 crore for a further 15.5 %t stake, its total stake in in Unitech Wireless would be 60 % of the total issue and paid-up equity share capital. |