By Shivani - { 22/02/12 }
Unitech’s reflection on Telenor’s announcement–What could be the final decision?
Unitech, an Indian real estate company and Telenor, a Norway-based telecommunications group had jointly setup Uninor network in India was in fact doing well in business compared to other new starters. But, Uninor’s Unified Access Service Licenses(UASL) was recently cancelled by the Supreme Court of India.
Reflecting this cancellation, Norwegian Telecom Telenor had decided to cancel its partnership with Unitech and decided to have another group in its kitty. It was a shocking news to Unitech and has opposed this decision. They argued that the stakeholders agreement cannot be cancelled with one sided decision as in the paper statement. It has to be accepted by both side. The problem is in process and the final decision is pending. Uninor partnership seems to be falling apart. Whats your take ?
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