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Unitech Wireless to raise up to $2bn for its Telecom Operations
India’s Unitech Wireless Ltd., a unit of real estate major Unitech Ltd., will raise between $1.5 billion and $2.0 billion within a year to fund its telecom operations, a senior executive said Wednesday.
“The final amount is not been decided yet…We would know what it is likely to be once internal consultations on this begin,” Rajiv Bawa, Unitech Wireless’ chief corporate affairs officer, said in response to a query from Dow Jones Newswires.
Unitech is in the process of selling a 67.25% stake in Unitech Wireless to Telenor ASA for around INR61.2 billion ($1.2 billion). Telenor now holds a 49% stake in Unitech Wireless.
Click here to find out more!”Since this is project financing, the money will be used for network equipment, real estate, distribution infrastructure and others as a part of the rollout,” Bawa said.
News Published Under: Banking and Finance, Real Estate Developers, Real Estate India | No Comments »