comscore Telenor gets approval to hold 74 percent stake in Telewings in India
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Telenor gets approval to hold 74 percent stake in Telewings in India

Telenor ASA’s proposal to own 74 percent stake in an Indian telecom company has been approved by the Indian government, WSJ reports. This will now allow the company to increase its stakes to 74 pe

Telenor_In_India


Telenor ASA’s proposal to own 74 percent stake in an Indian telecom company has been approved by the Indian government, WSJ reports. This will now allow the company to increase its stakes to 74 percent in its Indian telecom partner. This, according to the current FDI policies, is the maximum percent of holding allowed for a foreign investor to get in an Indian telecom firm. Also Read - Trai imposes Rs 56 lakh penalty on telcos for call drop in first half of 2018


At present, Telenor operates with an Indian venture named Telewings Communications. The Norwegian company holds 49 percent in this company and the rest of the share is held by Lakshdeep Investments under Sun Pharmaceutical Industries. Also Read - Bharti Airtel India reports loss of Rs 940 crore in first quarter

Prior to this, Telenor had 67 percent stake in a telecom venture started with Unitech. However, the company lost licenses after the Supreme Courts cancelled 122 licenses allotted in an inappropriate manner. Later, it decided on investing in a new venture Telewings which had won spectrum to operate in six circles in India. Also Read - Airtel to lay-off section of Telenor staff post-merger

Now, Telenor is working on revamping its Indian operations and thus has been looking forward to the approval to increase its stake from the Foreign Investment Promotion Board. Telenor had been reported to mention that it was waiting for a formal communication from the government on the panel’s decision and thus would take time to disclose the investment requirements.

It was only a couple of days back that there were reports on the revision of the Indian FDI policies by the government, which is expected to soon allow a foreign investor to hold 100 percent stake in a telecom company in India. If this policy comes into effect, the Indian telecom industry might see many foreign players entering the telecom arena.

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  • Published Date: June 15, 2013 1:39 PM IST



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