TMCnet News
India : FIPB approves TELENOR's plan to boost stake in UNINOR [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) The government of India's Foreign Investment Promotion Board (FIPB) had approved Telenor's plan to boost its stake in Uninor to 100% from the current 74% stake. The telecom company had won an approval for a foreign direct investment (FDI) of Rs 780.86 crore for this purpose earlier in the month. Telenor had earlier applied for FIPB approval to buy out its minority shareholders in Uninor in June 2014. The telco had announced plans to invest Rs 780 crore to buy the 26% stake owned by its Indian partner Lakshdeep Investments & Finance Pvt. Ltd in the partnership Telewings which offers telecom services in the country under the Uninor brand. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |