Telenor keeps options open; may bid for 2G spectrum
06 Feb 2012
Norwegian telecom operator Telenor today said its participation in the auction for 2G spectrum will depend on bid conditions and that it is keeping the exit option open.
Telenor ASA, which bought 67 per cent in Unitech's wireless licence post-auction to enter the Indian telecom market, had, last week, said it planned to quit India and write down its investments after the Supreme Court cancelled its spectrum licence along with other 121 licences issued during the 2008 spectrum scam.
In fact, Telenor has already written down its 4.2 billion kroner investments in India in compliance with accounting norms in the wake of the Supreme Court judgement.
But, Telenor, which operates as Uninor in India to reflect Unitech's stake in the joint venture, said it has no plans to slow or quit its Indian operations as yet.
"We came here to win, we came here to stay," Sigve Brekke, executive vice president and head of Asian operations, said.
Telenor, which has already invested Rs14,000 crore in Uninor, said it would do everything possible, including legal battle, to protect its investments in India.
The price factor is important to make the bid attractive and that would depend the number of participants and the entr6y of new competitors, Telenor said.
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