The Foreign Investment Promotion Board (FIPB) has cleared the proposal of Norway-based Telenor to hike its stake in Unitech Wireless from the current 49 per cent to 67.25 per cent

The Foreign Investment Promotion Board (FIPB) has cleared the proposal of Norway-based Telenor to hike its stake in Unitech Wireless from the current 49 per cent to 67.25 per cent. The matter had been pending with the FIPB for clearance since May 22, 2009. The Ministry of Home Affairs and some government agencies had earlier deferred the clearance citing security concerns related to Telenor’s investments in Pakistan and Bangladesh.