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Investment | February 08, 2012
#14955

Telenor to continue India operation

Despite the recent Supreme Court order on 2G license going against the company's interest, Norway-based Telenor plans to continue in India and fight back the order.
 
 In order to safeguard Telenor's investment in India, the Norwegian government will hold talks with the its Indian counterpart.
 
 Norway's state-run firm Telenor forged a joint venture (JV) with India's Unitech and formed Uninor. The move from the Norway government comes while the JV company is set to lose as many as 22 telecom licences after the Supreme Court ordered the cancellation of 122 licences awarded in 2008.
  
 
 Norway's Minister telecom minister Rigmor Aasrud said Telenor has not done anything wrong in India and that the licenses were granted to companies before Telenor entered Indian market. 
 
 
 A top company official said Telenor was unfairly harmed by the decision and added that the company should not be held responsible for something that happened in the past. But the official said Telenor would continue to fight and win. The company has committed an investment of $3 billion in India, the bulk of which has already been deployed, according to officials at Uninor.

 
 The official said Uninor, with all the support from Telenor, and the government of Norway, intended to fight for its rights. 
 
 

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