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Telenor to acquire 100 percent stake in Uninor for Rs 780 crore

Jun 13, 2014    

New Delhi Norwegian telecom firm Telenor today said it will take complete ownership of its Indian unit Uninor by acquiring the 26 percent stake held by Lakshdeep Investments for Rs 780 crore.The company, which currently owns 74 percent stake in Uninior, has filed an application with FIPB seeking to raise its ownership to 100 percent. "An application has been filed with the Foreign Investment Promotion Board of the Government of India, seeking approval for an additional investment of Rs 780 crore to raise ownership in Uninor to 100 percent," Telenor said in a statement.It added that t...

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