Unitech told to buy-out or sell-out

14 Mar 2012

India’s Company Law Board (CLB) has given Unitech until 19 March to decide either to sell its 33% stake in Uninor to its partner in the venture, Norway’s Telenor, or to buy out the Norwegian’s 67%. According to the Hindustan Times, the CLB gave priority to Unitech, but did not comment on how a price for the stakes would be established. The CLB said that due to the hostility between the parties, it could see ‘no other solution.’

India, Telenor Group, Telenor India