Telenor spurns Unitech's claim, says DoT nod not needed for Indian arm asset auction
Economic Times
Norway's Telenor has spurned estranged partner Unitech's claim that Department of Telecom's approval is mandatory before auctioning the assets of its Indian arm Unitech Wireless. "Auctioning Unitech Wireless' assets does not require DoT approval, although actual transfer of assets to a new company, post-auctions, would require the telecom department's consent," said Telenor's Asia head Sigve Brekke, who is also the managing director of the Scandinavian telecom company's Indian unit, which retails GSM services under the Uninor brand. Brekke said that Telenor had submitted an expression of interest (EoI) jointly with an undisclosed Indian affiliate to acquire the assets of its Indian arm. The quasi-judicial body is slated to take a final call on August 8.