A majority of the board members of Telenor’s Indian mobile phone joint venture have decided to sell the business in an auction, according to an auction notice in a newspaper, which the Norwegian company’s partner Unitech is opposing.
The JV, Unitech Wireless (Tamil Nadu) has invited interests from potential bidders by 6 August.Reuters
The JV, Unitech Wireless (Tamil Nadu) has invited interests from potential bidders by 6 August, its Managing Director Sigve Brekke said in the auction notice published on Wednesday in the Financial Express newspaper.
A spokesman for real estate firm Unitech which owns just under a third of the JV, said they would take legal action against the proposed auction.
Reuters
Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:
Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures
Please do not post comments that target a specific community, caste, nationality or religion.
While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions.
Comments will be moderated for abusive and offensive language.
