Telenor's guns for Unitech Wireless stake

A Unitech representative has confirmed that Norwegian operator Telenor is eyeing a stake in Indian operator Unitech Wireless, but has revealed that Telenor is not the only interested player.

Unitech's managing director, Sanjay Chandra, told the Indian press that the company is in talks with three global telecom players - including Telenor - over the sale of up to 45% of Unitech Wireless.

Chandra declined to name the other two interested parties, but said the deal should be finalised within the month.

The company is hoping to raise over $1.5 billion from the sale. According to Business Standard, Unitech does not expect the deal to be impacted by the current global financial situation.