Norwegian telecom player Telenor has informed the Indian government that it plans to invest up to Rs 112 billion ($2.24 billion) in Unitech Wireless and has also sought approval to increase its stake in the telecom company to 74 per cent.

Norwegian telecom player Telenor has informed the Indian government that it plans to invest up to Rs 112 billion ($2.24 billion) in Unitech Wireless and has also sought approval to increase its stake in the telecom company to 74 per cent. The original deal, signed in October 2008, involved Telenor buying 60 per cent stake in Unitech Wireless for Rs 61.2 billion. But in March 2009, Unitech agreed to give away another 7.25 per cent stake in its mobile phone business to Telenor at no additional cost in return for not having to pump in more funds into the JV for the next two years.