Norwegian operator Telenor has acquired a further 11.1% stake in Unitech Wireless as part of a quadruple tranche deal for US$325m.
Goldman Sachs is advising Telenor and UBS is advising Unitech.
Unitech issued fresh shares and the deal has resulted in…
Norwegian operator Telenor has acquired a further 11.1% stake in Unitech Wireless as part of a quadruple tranche deal for US$325m.
Goldman Sachs is advising Telenor and UBS is advising Unitech.
Unitech issued fresh shares and the deal has resulted in Telenor now holding a 60.1% stake for which it has paid a total of around US$895m.
The fourth instalment, expected by the end of Q1 2010, will see the firm’s stake rise to 74%, the maximum permissible under Indian FDI rules.
Unitech operates under the Uninor brand and offers services in seven circles.
