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  • Mar 06, 2013
  • EGoM allows Telenor to offset Rs 1,658-crore paid by Unitech Wireless

    Reversing its earlier stance, India will allow Norwegian telecom major Telenor to offset the Rs 1,658 crore that had been paid by UnitechWireless in 2008 to obtain mobile permit in all 22 regions. Telenor had a majority stake in Unitech Wireless. In December, Telenor had paid 33% of its bid price, equivalent to Rs 1,325 crore, 'under protest', after the telecom department (DoT) rejected its demands to adjust the entry fee paid by Unitech Wireless, against the charges for the airwaves it won in the November auctions. The DoT had then said Telenor had participated in the actions under a new and separate entity when it won back its permits in six circles and could, therefore, not offset the Rs 1,658 crore paid by Unitech Wireless.

    Source - http://economictimes.indiatimes.com