[press trust of india] Norway’s Telenor ASA has hiked its stake in Unitech Wireless Ltd, the telecom unit of Unitech Ltd, to 49 per cent through an additional investment of Rs 1,130 crore.
Eight units of Unitech Wireless received the additional funds for 15.5 per cent stake from Telenor Asia Pte Ltd, the Asian unit of the Norwegian telecom major, Unitech said in a statement to the Bombay Stock Exchange.
Taking into account 33.5 per cent stake bought by Telenor in the first phase by investing Rs 1,250 crore, the total stake of Telenor in Unitech Wireless shall be 49 per cent of the total issue and paid-up equity share capital, the company said. Realty major Unitech sold 67.25 per cent stake in Unitech Wireless to Telenor for around Rs 6,120 crore. Telenor got a larger stake (67 per cent) instead of the planned 60 per cent in Unitech Wireless earlier this year “largely due to the macroeconomic development since the deal was made.”
Telenor stake in Unitech Wireless at 49 pc, invests Rs 1,130 cr
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