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.
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. 