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I believe I can fly: Telenor gets its Telewings

20 Oct 2014

Norway’s Telenor Group has taken full control of its Indian subsidiary, Telewings – which trades under the Uninor brand – completing its acquisition of the 26% stake that it did not already own from Lakshdeep Investment and Finance. Telenor finalised the deal after the takeover was green lit by India’s Foreign Investment Promotion board (FIPB) and paid INR7.8 billion (USD131.54 million) for the stake. As noted by TeleGeography’s GlobalComms Database, Telenor formed joint venture Telewings with Lakshdeep in October 2012, before transferring the Uninor brand and assets to the new company after its split from former Indian partners Unitech Wireless in the wake of the mass spectrum cancellation in February 2012. The Norwegian group applied to the FIPB for permission to take full control of the unit in June this year.

India, Telenor Group, Telenor India

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