strongBy R Jagannathan/strong
Why would any company sell its own business in the hope that no one else will buy it and it can then buy it back?
But this is what Uninor, the 67:33 joint venture between Norwegian Telenor and Unitech Wireless, is doing, over the a href=http://www.firstpost.com/business/why-unitech-is-opposing-uninors-move-to-auction-telecom-biz-401725.htmlloud protests /aof the latter.
In a notice on Wednesday, Uninor said it was planning to put all its assets and liabilities on the block for a minimum price of Rs 4,000 crore - and as of now Telenor is the only bidder in the auction. Uninor has Rs 10,000 crore in debts and guarantees, and around 45 million customers.
So why is Telenor doing this?
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