Norwegian telco Telenor is reportedly considering merging its Indian operations with local operator Tata Teleservices after winning mobile licences earlier this month.
Telenor is in talks about a majority stake in the enlarged entity, reported Reuters…
Norwegian telco Telenor is reportedly considering merging its Indian operations with local operator Tata Teleservices after winning mobile licences earlier this month.
Telenor is in talks about a majority stake in the enlarged entity, reported Reuters citing a source.
The plan would see Tata Group cut its stake in Tata Teleservices, while Japanese mobile operator NTT DoCoMo, which holds a 26% in the Indian telco, would retain its holding in the merged group, added the report.
Telenor, Tata Teleservices and NTT DoCoMo were unable to comment before the press deadline.
Local reports back in the summer suggested that Telenor could strike a partnership with Tata Teleservices to enlarge its presence in India.
Speaking at a conference in early November, Telenor CFO CFO Richard Olav Aa said consolidation in the country could help the Norwegian telco make a profit after years of losses in the market.
