Telenor yet to hear from FIPB on Unitech Wireless

Telenor yet to hear from FIPB on Unitech Wireless

Helsinki: Telenor ASA, the biggest Nordic phone company, said it hasn’t received a decision from India’s Foreign Investment Promotion Board (FIPB) on its proposal to increase its stake in Unitech Wireless. The company had thus far not received any formal communication about the outcome of the process, spokesman Glenn Mandelid said in an email, declining to comment on reports that the board had approved Telenor’s application. Mandelid added that they have always been optimistic of securing this permission to enhance foreign investment in Unitech Wireless.

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