CLB passes Uninor row to Singapore; Telenor to fight decision in India

13 Apr 2012

India’s Company Law Board (CLB) has now referred the dispute between Norway’s Telenor and real estate firm Unitech over joint venture Uninor for arbitration in Singapore, reports the Indian Express. The two companies are at odds over management control and possible transfer of Uninor’s assets, as Telenor has decided to break from Unitech and look for a different partner in India. Telenor has said it will challenge the CLB’s decision in a higher court, adding: ‘There should be no doubt that we will do all that is necessary to secure the future of Uninor’s employees, customers and partners. Our intention remains to establish a new company as a platform for the future and transfer all Uninor assets, employees and customers to it.’

India, Telenor Group, Telenor India