Unitech Limited has offloaded 60 per cent stake in its telecom ven ure for Rs 61.2 billion to Norwegian telecom firm Telenor.

Unitech Limited has offloaded 60 per cent stake in its telecom venture for Rs 61.2 billion to Norwegian telecom firm Telenor. Under the deal, Unitech’s eight subsidiaries, which hold licences to operate in 22 circles, will issue fresh equity to Telenor. The Rs 12 billion debt that Unitech had taken to buy the licences will be transferred to the telecom venture. However, Telenor’s operations in Pakistan and Bangladesh may pose a problem to its entry into India as companies operating in these countries have faced security issues in India in the past.