Norway-based Telenor has raised its stake in Telewings Communications from 51 per cent to 74 per at an investment of about Rs 10 billion.
Telewings Communication is a subsidiary of Telenor and offers telecom services under the brand name Uninor. Earlier, Telenor had formed Telewings Communications in partnership with Lakshdeep Investments and Finance which held 51 per cent stake in the joint venture. Telenor participated in the spectrum auctions held in November 2012 through Telewings Communications and won spectrum in six circles – Maharashtra, Gujarat, Uttar Pradesh East, Uttar Pradesh West, Bihar (including Jharkhand) and Andhra Pradesh.
In December 2013, the company completed transfer of its business assets from Uninor, which is its Indian joint venture with real estate major Unitech Limited, to Telewings Communications.
