Norwegian telco Telenor has mandated Citigroup to advise it on finding a new partner for its Indian operations, according to local website livemint.com.
Telenor declined to comment on the report.
The company is present in India via a 67.25% stake in…
Norwegian telco Telenor has mandated Citigroup to advise it on finding a new partner for its Indian operations, according to local website livemint.com.
Telenor declined to comment on the report.
The company is present in India via a 67.25% stake in Uninor, a mobile joint venture with real estate company Unitech.
The relationship between the joint venture partners is tense, and a legal dispute over the management of Uninor, which culminated when the JV had its 2G licences cancelled in the wake of the country’s 2G scam, is ongoing.
As a result, Telenor said it is seeking to find a new JV partner for Uninor prior to the upcoming 2G auction. Unitech has opposed the move.
It was recently suggested that Telenor has held talks with local Indian telco Tata Teleservices. But a source quoted by livemint.com said that a telco would be an unlikely partner.
Indian billionaire Anil Agarwal has also been tipped to create a new telecoms venture with Telenor.
