Telenor Group takes full control of Uninor with 100% ownership

NEW DELHI: Telenor Group Friday said that it has taken full ownership of its Indian unit Telewings that operates under the brand name Uninor, following the acquisition of the 26% ownership stake, held by Lakshdeep Investment & Finance.

"Telenor Group has a long-term view on India, and we are encouraged by the strong growth of our Indian operation. The company continues to capture market share every month and is leading in new subscriber additions in many of its circles," Sigve Brekke, EVP of Telenor Group and chairman of the Board of Telewings, said in a statement.

The process was finalized after Telenor received approval from the Indian government's Foreign Investment Promotion Board (FIPB) to increase its stake from 74% to 100%.

Uninor caters to 2G population in its six circles. It will also launch services in Assam early next year.

The company bought liberalized spectrum in the 1800 Mhz band, which can be used for offering high speed wireless internet services on 4G. However, the ecosystem is yet to develop and at the same time other carriers are expanding their 3G networks.

Uninor also claims to have the second largest distribution network in its operating circles.