Telenor may exit India over licence auctions
01 May, 2012
Telenor, Norway’s largest supplier of telecommunications and data services, has said it will be forced to exit the Indian market if plans to auction airwaves at a price 13 times higher than four years ago, go ahead.
“This is not a threat, it is a reality,” said Telenor Executive Vice-President & Asia head Sigve Brekke, according to The Times of India. He added: “If these recommendations become policy, we will be forced to exit India. It will be impossible for us to continue operations here.”
Telenor has invested over $3 billion in India since 2008 when it took over a majority stake in the telecom arm of Unitech, a real estate company based in Delhi. If the proposals from the Telecom Regulatory Authority of India are accepted by the government, Brekke has confirmed that for Telenor to continue its operations in India would be ‘impossible’.