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Norway-based telecom company Telenor has raised its stake in its Indian joint venture with Unitech Wireless to 60.1 percent from 49 percent at an investment of Rs 1,493 crore.
This is the third tranche of fresh equity investment from the Telenor Group, Unitech Wireless said in a statement. Telenor plans to eventually increase its stake to 67.25 percent in Unitech Wireless.
This investment follows the Cabinet Committee on Economic Affairs approval in October 2009 allowing Unitech Wireless to increase foreign shareholding up to 74 percent.