Indian newspapers: Telenor in talks about giving away operations in India

Telenor headquarters, Bulgarian MPTelenor headquarters.Photo: Norway Today Media

According to Indian newspapers, Telenor is in talks with a competitor about to give away the company’s operations in India, as long as the buyer assumes all of the liabilities.

According to Dagens Næringsliv on Friday, the two major newspapers “The Times of India” and “Economic Times” write that there have been negotiations between Telenor and competitor Idea Cellular in the autumn.

– The two companies have held talks in order to transfer all liabilities and assets without an actual payment, says a source who is familiar with the developments in the case, to the newspapers.

Telenor owe the Indian state NOK 2.5 billion in licensing fees and has commitments of around NOK 2.2 billion to financial institutions, according to The Economic Times.

In October several analysts said that Telenor could potentially withdraw from India within a short time.


Source: NTB scanpix / Norway Today