Uninor gets new telecom licences
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Uninor gets new telecom licences

Last Updated: Tuesday, December 3, 2013, 20:35
 
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Uninor gets new telecom licences
New Delhi: Mobile operator Telewings has got unified licence, the new telecom permits, after its promoter Telenor successfully transferred assets of old venture Unintech Wireless to the new entity.

"We can confirm that new unified licences have been received. This is licence and spectrum for 20 years in the six circles of UP East, UP West, Bihar and Jharkhand, Maharashtra and Goa, Andhra Pradesh and Gujarat," Telewings said in a statement.

The company, however, continues to operate under brand name Uninor which was created under its partnership with real estate firm Unitech.

All licences of Uninor were cancelled in February 2012 by the Supreme Court along with 100 other 2G permits. Uninor had to bid for spectrum afresh to continue its operations.

Erstwhile parters Telenor and Unitech were at loggerheads after Uninor licences came under the scanner of investigating agencies in 2G spectrum allocation case of 2008.

Even after cancellation of Uninor's permit, both the partners continued to be locked in a dispute over control of Uninor assets. Both the companies finally signed an agreement in October 2012 wherein Unitech agreed to allow transfer of Uninor assets to Telewings.

According to sources, under the settlement agreement both companies decided to close all legal disputes, allow Telenor to run operations through Telewings post asset transfer, and the new Indian entity can re-brand operations.

All assets of Uninor have now been transferred to Telewings which participated in November 2012 auction and won spectrum in the six service areas, a company spokesperson said.

"Having received due approvals, the Uninor business is now running in the new company Telewings that has licence and spectrum for 20 years in the circles of UP East, UP West, Bihar and Jharkhand, Maharashtra and Goa, Andhra Pradesh and Gujarat," the statement said.

The spokesperson said that Uninor services will continue seamlessly under the Uninor brand name.

Telenor has also received approval of the Foreign Investment Promotion Board in June to raise its stake in Telewings from 49 percent at present to 74 percent.

"Telenor Group had applied for and received approvals to raise its shareholding to 74 percent, which will be done in due course," the spokesperson said.

Lakshdeep Investments & Finance has 51 percent stake in Telewings at present.

Uninor had 3.23 crore mobile customers at the end of September, 2013.



PTI

First Published: Tuesday, December 3, 2013, 20:35


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