New Delhi: After Vodafone, Norway based telecom giant Telenor group is seeking to raise stake in its Indian subsidiary Uninor to 100 per cent. Telenor will acquire the 26 per cent stake held by Lakshdeep Investments for Rs 780 crore.
The Norwegian telecom firm, which currently owns 74 per cent stake in Uninor, has filed an application with FIPB seeking to raise its ownership to 100 per cent. Last year India had allowed 100 per cent FDI in telecom from 74 percent.
Uninor, which has over 30 million customers, currently offers services in Andhra Pradesh, Bihar, Gujarat, Maharashtra, UP East and UP West and is planning to launch services in Assam this year.
“Continuing its long term commitment to India, Telenor Group has filed to take complete ownership of its Indian business unit,” said Telenor.
