Unitech to announce telecom stake sale next week

Unitech to announce telecom stake sale next week
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First Published: Fri, Oct 24 2008. 11 17 AM IST
Updated: Fri, Oct 24 2008. 11 17 AM IST
Reuters
New Delhi: Indian real estate firm Unitech Ltd will make an announcement regarding a stake sale in its telecoms business next week, Managing Director Sanjay Chandra told Reuters on Friday.
Sources told Reuters earlier this month that Unitech was in talks to sell a stake in the telecom venture to Norwegian telecom group Telenor.
Unitech is scheduled to announce its second quarter results on 31 October.
Chandra said the firm expected revenue and profits to grow “upwards of 20 pct” in the fiscal year 2008-09.
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First Published: Fri, Oct 24 2008. 11 17 AM IST