Telenor and Unitech dissolve their Indian telecom joint venture, Uninor, following the 2G spectrum scandal. Telenor plans to establish a new entity and participate in upcoming spectrum auctions.
Unitech plans to merge its eight telecom subsidiaries for better management, aiming to roll out services by mid-2009 while navigating delays with Telenor's stake sale.
Unitech Ltd to announce stake sale in telecoms business next week, expects 20%+ revenue & profit growth in FY 2008/09.