Telenor digs in for India 2G fight
Telenor is braced for battle with Indian authorities over the 2G licenses of local business Uninor, which a local court has ordered revoked along with 100 others.
Sigve Brekke, executive vice president and head of Telenor’s Asian operations, pledged to fight the decision in a press conference this morning, noting that legal action against the Supreme Court or an exit from India are two of several options available to the Norway-headquartered firm.
However, Brekke suggested that departing India is a last resort, telling reporters the firm is in discussions with local authorities on the best course of action, the Wall Street Journal reports.
India’s government has already asked regulator TRAI to draw up terms for a re-auction of the 122 licenses revoked, however Brekke is keen to see new players excluded from any fresh sale, the Economic Times states.
The Supreme Court binned the licenses early February, after it emerged they were undervalued by former telecoms minister Andimuthu Raja in a 2008 auction.