Mergers and Acquistions News
Categories: Telecoms
January 28th 2009, 15:20PM
Communications firm Telenor has announced that it has taken out a loan which could be used to finance its investment in Unitech Wireless.
It withdrew the previously proposed rights issue of 12 billion Norwegian krone (£1.25 billion) following an evaluation of alternative ways of funding the investment with independent financial adviser Deutsche Bank.
Closure of the investment in the Indian company is expected to take place during the first quarter of 2009.
"Telenor remains confident that all conditions will be met within the indicated timeframe, including agreements for infrastructure sharing that will allow a swift and cost-efficient rollout," it comments.
Founded in 1994, Telenor has grown from a national operator to an international provider of mobile communications services.
It now has operations in 12 markets around the world, including Denmark, Russia, Pakistan and Thailand.
The firm's fixed-line and broadcast services cover the Nordic region.
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