Telenor plans to form a new company to run its telecom business in India, say news reports.
It plans to offer 26 per cent stake to its prospective partner in the new company while it will hold the remaining 74 per cent stake in the company. Telenor is looking at independently running the telecom operations in the country, without any intervention from its associate partner.
Telenor will be setting up a new entity, once it part ways with its current joint venture partner Unitech, which holds 32.75 per cent stake in Uninor. In view of the upcoming 2G spectrum auction, Telenor is looking at finalising on a new partner by October this year.
Telenor also plans to expand its operations in the country. It is going to set up about 675 base transceiver stations to boost its network connectivity. The operator is also focusing on strengthening its retail network and expands its footprint in smaller towns and villages.
