Uninor, the Indian mobile operator owned by Norway’s Telenor, has appointed Vivek Anand as its new CFO as of May.
He will replace Prasoon Sinha, who has been appointed as VP and head of dynamic performance management project at Telenor in Oslo.
After…
Uninor, the Indian mobile operator owned by Norway’s Telenor, has appointed Vivek Anand as its new CFO as of May.
He will replace Prasoon Sinha, who has been appointed as VP and head of dynamic performance management project at Telenor in Oslo.
After six years at Uninor, Sinha “will be involved in creating value through performance management across the different business units of the Telenor Group”, according to a Uninor statement.
Anand joins the Indian operator from consumer goods company Unilever Bangladesh, where he has also been CFO for the past four years.
A few days ago, Sigve Brekke, the Norwegian company’s head of Asia, told local media that Telenor was considering acquiring all the shares it does not own in Uninor “now that we know it’s allowed”. But he added that there is “no immediate plan to do this”.
Last September, Indian authorities removed the maximum 74% threshold for foreign investments in telcos. Vodafone was the first operator to take advantage of the new legislation by boosting its 64% direct stake in Vodafone India to 100% for US$1.6bn.
Telenor ended its partnership with Indian real estate group Unitech in Uninor following a bitter dispute last year. It has since found a new JV partner in Lakshdeep Investments & Finance, which owns 26% of the wireless player. Telenor holds the remaining 74%.
