HOME > BUSINESS > Telenor completes Uninor acquisition

Telenor completes Uninor acquisition

Telenor Group announced today that it has completed the acquisition of the 26 per cent ownership stake in Telewings, held by Lakshdeep Investment & Finance. As a result, Telenor now takes full ownership of the company that operates under the brand name Uninor. The process was finalized after Telenor received approval from the Indian government’s Foreign Investment Promotion Board (FIPB) to increase its stake from 74 per cent to 100 per cent.

uninor-arpu

“Telenor Group has a long-term view on India, and we are encouraged by the strong growth of our Indian operation. The company continues to capture market share every month and is leading in new subscriber additions in many of its circles,” said Sigve Brekke, EVP of Telenor Group and Chairman of the Board of Telewings.

The development has come six months ahead of a planned spectrum auction, which promises to be the biggest such event in India for the next 15 years or so.

Telewings’ revenues in the first half of 2014 compared to the same period last year have increased by more than 40 per cent. Earlier this year, the company expanded its service portfolio from voice to basic internet services. Close to 20 per cent of the company’s subscribers are now active internet users.

Telenor’s Indian arm is present in seven circles with a total population of around 600 million people. The company has participated in two separate auctions to acquire spectrum in the range of 5 Mhz to 7.2 MHz in seven circles. With a network of more than 1,500 stores and 365,000 points of sale, Telewings has the second largest distribution network in its operating circles. The company will also launch services in Assam early next year.

Follow ULTRA.news
Wipro wins 5-year IT outsourcing deal from Telenor’s Bangladesh unit IT solutions provider Wipro said it won a five-year IT infrastructure and applications managed-services contract from Grameenphone, the Bangladesh telecom operator owned by Norway's Telenor. Under the agreement, Wipro will manage the entire IT infrastructure of the largest mo...
Bharti Airtel gets SEBI and stock exchange nod for Telenor acquisition Bharti Airtel said it received the approval of the Securities and Exchange Board of India, BSE and National Stock Exchange of India for its proposed merger with Telenor India. Bharti Airtel further stated that Telenor India and Airtel have today filed the joint company appli...
Bharti Airtel buys Telenor India In a surprise announcement, Bharti Airtel said it was taking over Telenor India, marking the first such transaction since Idea took over Spice Telecom several years ago.Typically, companies in Indian telecom sector sell only assets, such as spectrum, and never the whole unit,...
Telenor India launches 4G services in Guntur and Rajahmundry Telenor India today launched 4G services for its customers of Guntur and Rajahmundry area in Andhra Pradesh.The launch in Guntur and Rajahmundry follows test pilot of Telenor’s 4G services across its circles in Varanasi, Vizag, Amravati, Agra, Anand, Lucknow, Ranchi, Vijayawa...
Telenor says ‘no’ to upcoming spectrum auction in India Telenor, the Norway-based telecom operator, said it has decided against participating in the upcoming telecom auctions in India as the reserve prices are too high compared to the possible return on investment."We have, after thorough consideration, decided not to participate ...
TRAI rejects plea by Airtel, Idea and Jio to postpone 700 Mhz spectrum sale The Telecom Regulatory Authority of India has rejected the request by three of India's biggest 4G operators -- Bharti Airtel, Reliance Jio and Idea Cellular -- to not sell any more 4G spectrum, especially in the strategic 700 MHz band.The move is likely to lead to a fast roll...
Vodafone, Idea, Reliance Jio, Telenor and Bharti likely to buy 4G waves in auction – CS Broker Credit Suisse sees all the major telecom companies of India making an attempt to buy fresh 4G spectrum in the upcoming auctions expected to take place in March.Despite making contrary noises, the telcos are likely to buy airwaves as it is a 'once-in-20-years' opportuni...
Telenor, Vodafone, Tata keen on 700 MHz spectrum; Jio, Bharti, Idea defensive Maximum cell sizes of various bands (source: US Justice Dept)For years, India's telecom operators have taken the government repeatedly to task over 'hoarding' spectrum, not releasing it on time etc.. However, with recent auctions giving some of them a competitive advantage, ...
Thanks to TRAI, Uninor breaks even for the first time Uninor, the Indian brand of Telenor, has managed to break even at an operating level for the first time in India, thanks to the recent cut in termination charges by telecom regulator TRAI.TRAI had, about five months ago, cut termination charges (paid by one operator to an...
Uninor beats Airtel, Vodafone and Idea in subscriber growth rate in April Uninor beat bigger peers by adding a total of 1.17 mln subscribers, translating to a month-on-month growth of 2.6%, in April.In terms of the absolute number, however, Uninor was third, after Bharti Airtel and Idea Cellular, in the month.In all, a total of 6.35 mln subscri...
Uninor, Micromax fastest growing telecom cos in India – Survey Indian telecom industry grew by 10.8% last financial year, with equipments segment growing faster than services, according to Voice & Data Annual India Telecom industry Survey 2014.The top three telecom service providers in the country – Airtel, Vodafone and Idea account ...
Uninor continues to grow even as others slow down Uninor, the Indian unit of Norway's Telenor, reported a 67.3% year-on-year jump in operating profits (EBITDA) for the three months ended December 2013. The company also said revenue from its six operating states of Andhra Pradesh, Gujarat, Maharashtra, Uttar Pradesh, Bihar and G...