Telenor completes stake buy in Unitech

NEW DELHI, INDIA: Norway's Telenor has put 20.22 billion rupees ($434 million) in its fourth round of investment in Indian telecom firm Unitech Wireless, taking its holding to an agreed total 67.25 per cent.

Telenor said last month it had increased its holding in the Indian phone firm to 60.1 per cent.

Indian realty firm Unitech Ltd, which founded Unitech Wireless and holds the remaining stake in the firm, said in a statement the telecom firm received the money on Wednesday for acquisition of the final 7.15 percent by Telenor.