“We are surprised to receive the indemnity claim from Telenor…and simultaneous release of press statement by Telenor, which is a clear violation of the confidentiality covenants of the shareholders’ agreement,” a Unitech statement reveals. “We reserve our right to take appropriate legal action against Telenor for damages caused to Unitech.”
Unitech threatens Telenor lawsuit
Indian conglomerate Unitech is mulling legal action against Telenor, claiming the telco has breached confidentiality agreements relating to the pair’s Uninor joint venture.
The Indian firm believes Telenor has broken covenants in the pair’s shareholders agreement by detailing plans to seek compensation and dissolve the partnership following the cancellation of Uninor’s 2G licenses along with 100 others.
Unitech denies any breach of warranties as a result of the revocation, and notes the court that ordered the move has not indicated any wrong-doing by Uninor.