For a company that has been hit
the hardest in a sector that has borne the brunt of the most dramatic bear
market in the last fifty years, Unitech
has found a lifeline. The real estate giant today announced that it had successfully
negotiated a deal with telecom giant Telenor
to sell Sixty percent of its stake in its mobile telecom enterprise Unitech Wireless. The deal is
significant because the 60% stake sale will bring in 6,250 Crore rupees or $1.3
billion for Unitech and for the Norwegian company Telenor, it grants an entry
point into India’s rapidly growing telecom market.
You may not believe at first but it’s true that the second wave of the telecom revolution in India is being led by real estate developers of India. It has come into the notice of The India Street that real estate developers like Indiabulls Real Estate Limited, DLF, Unitech and Parsvnath Developers have applied for universal telephone licenses.
The India Street is always interested in giving you detailed information regarding Indian business scene. Below find top three business news this week.
Starting this week we will be starting a couple of new things I’d like to share with our readers. First, our series of video interviews that are meant to be entertaining yet educational yet maintaining our purpose here which is to give you information to make intelligent investment decisions.
For a company that has been hit
the hardest in a sector that has borne the brunt of the most dramatic bear
market in the last fifty years, Unitech
has found a lifeline. The real estate giant today announced that it had successfully
negotiated a deal with telecom giant Telenor
to sell Sixty percent of its stake in its mobile telecom enterprise Unitech Wireless. The deal is
significant because the 60% stake sale will bring in 6,250 Crore rupees or $1.3
billion for Unitech and for the Norwegian company Telenor, it grants an entry
point into India’s rapidly growing telecom market. 
