Telenor in for the long haul in India

7 Sep 2010

In response to media reports earlier this week that it was considering an exit from the Indian wireless sector, Norwegian telecoms group Telenor has refuted such suggestions, India’s Economic Times reports. Citing comments from Telenor Group regional head Glenn Mandelid, the report said that Telenor had denied it is under pressure from investors to sell off its interest in Uninor, with the executive claiming that there was no change in the company’s long-term plan for the mobile operator, and noting: ‘Uninor’s target is still to secure an 8% market share by 2018 and become cash-flow positive in five years … We are committed to India and our investment in Uninor.’

According to TeleGeography GlobalComms Database, Uninor launched commercial services in December 2009 in seven circles, and by end-June 2010 it had expanded to a further three circles, while it had signed up more than six million subscribers in its first six months of operation.

India, Telenor Group, Telenor India