Telenor has reportedly planned to acquire majority stake in the Indian mobile operator Unitech Wireless. According to the agreement, the initial investment in Unitech Wireless made by Telenor will be worth $1.2 billion, though the operator will now acquire 67.25% stake and not 60%, which it had announced earlier.
The subscription of shares will be completed in four phases. After the completion of first phase, which will be done soon, Telenor will own 33.5% stake in Unitech Wireless.(Wireless Federation)