Nobel prize winner may sue Norway's Telenor

OSLO, NORWAY: 2006 Nobel Prize winner Muhammad Yunus may take legal action against Norwegian telecom group Telenor in a bid to gain full control over Bangladesh operator Grameenphone, news agency NTB reported on Thursday.

Grameenphone, the top cell phone operator in the South Asian country, was founded in 1996 by Telenor and Grameen Telecom, which was launched by Yunus. Telenor owns 62 per cent of Grameenphone, while Grameen Telecom owns the rest.

Yunus has repeatedly referred to a deal where Telenor agreed to transfer its share in the company to Grameenphone, but Telenor has replied saying that the deal was not valid.

"I hope that a lawsuit will prove to be unnecessary, because Telenor's owners will demand that the company is standing by the intention which was communicated in 1996 about transferring ownership and control through Grameenphone to the poor in Bangladesh," NTB quoted Yunus as saying in a message.