::::Telenor plans Rs 2,000 cr investment in India::::

<div class=&quot;custm_img_blk&quot;><img src=&quot;http://www.techgig.com/files/photo_1335232142_temp.png&quot; border=&quot;0&quot; align=&quot;left&quot; /></div><span style=&quot;text-align: left&quot;>Norwegian&nbsp;</span><span style=&quot;text-align: left&quot;>Telenor Group</span><span style=&quot;text-align: left&quot;>, which is looking for a new partner to continue its telecom services in India, plans to invest up to Rs 2,000 crore more even as it is taking all steps to secure Rs 14,500 crore already pumped into Uninor, the joint venture with Indian realty firm Unitech.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Uninor</span><span style=&quot;text-align: left&quot;>&nbsp;managing director Sigve Brekke told reporters here Saturday that Telenor is committed to continue the services with a new partner, replacing Delhi-based Unitech.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Hopeful of finding an early solution to the situation arising out of the cancellation of the company's 2G telecom&nbsp;</span><span style=&quot;text-align: left&quot;>licences</span><span style=&quot;text-align: left&quot;>&nbsp;by the Supreme Court, he said while continuing the arbitration in&nbsp;</span><span style=&quot;text-align: left&quot;>Singapore</span><span style=&quot;text-align: left&quot;>&nbsp;for separation with&nbsp;</span><span style=&quot;text-align: left&quot;>Unitech</span><span style=&quot;text-align: left&quot;>, they were in talks with four to five companies in India.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Declining to name the companies, Sigve said they were looking for a partner, who is not a telecom operator and who is keen to have a long-term commitment.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>The new partner will have 26 percent stake in the company as Telenor has decided to increase its equity from 67 percent to 74 percent.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Stating that Telenor has already made substantial investment into Uninor, Sigve said they need to secure the investment. &quot;We need to do whatever we can to secure this huge investment,&quot; he said, to queries about a notice served by Telenor to India in March under the bilateral treaty.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>India has six months to sort out the issue under the bilateral treaty. Sigve noted that they already had positive dialogue with the&nbsp;</span><span style=&quot;text-align: left&quot;>Indian government</span><span style=&quot;text-align: left&quot;>, and the prime ministers of India and</span><span style=&quot;text-align: left&quot;>Norway</span><span style=&quot;text-align: left&quot;>&nbsp;also discussed the issue.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Telenor has plans to invest another Rs 1,000 crore to Rs 2,000 crore. &quot;The subsequent investment will be from the cash reserves of the company,&quot; said Sigve who is hopeful of company turning profitable in the first half of 2013 as originally envisaged.&nbsp;</span>

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