Norwegian telecoms operator Telenor is in advanced talks with Indian billionaire Anil Agarwal to create a new telecoms venture in India, according to the Economic Times citing sources familiar with the matter.
Telenor was not immediately available…
Norwegian telecoms operator Telenor is in advanced talks with Indian billionaire Anil Agarwal to create a new telecoms venture in India, according to the Economic Times citing sources familiar with the matter.
Telenor was not immediately available for comment before the press deadline.
Recently, the company said it was looking for a new partner for its Indian operations before taking part in the upcoming 2G auction, scheduled for this summer.
Telenor already operates a mobile JV in India, Uninor, with Indian real estate company Unitech.
But for many months, the two partners have been embroiled in dispute over management issues, which culminated with the 2G scam. As a result, Telenor, which controls 67.25% of Uninor, recently said it would shift its Indian operations to a new company and find a new partner for them. Unitech has opposed the move and both companies sought legal recourse.
Anil Agarwal is the founder and head of UK-based mining company Vedanta Resources. His personal fortune is currently estimated at US$3.5bn.
Agarwal reportedly denied the venture rumours.
