Telenor has termed the Telecom Regulatory Authority of India?s (TRAI) new norms on mergers and acquisitions as fair and reasonable.
Prior to this, the regulator had recommended that companies be allowed to acquire competing operators provided they hold less than 25 per cent spectrum in the service area and under 60 per cent of the subscriber market.
Uninor is currently under investigation in relation to the 2G spectrum case. The company?s proposed rights issue has also hit a hurdle after Unitech, which holds 32.75 per cent in the venture, challenged it in the court.
Unitech favours the debt route to fund Uninor’s expansion, while Telenor prefers the equity route.
