Saturday, December 15, 2012

Telenor Commits to Indian Market

Telenor restated its intention to become a major player in the Indian communications market by committing  INR 155 billion to its operations there.

In the most recent spectrum auction, Telenor secured 5 MHz spectrum in UP East, UP West, Bihar, Andhra Pradesh, Gujarat and Maharashtra.  In combination with the planned business transfer from Uninor to a new entity, this allows Telenor’s India operations to continue seamlessly in the new company for a period of 20 years.

Telenor noted that its Indian operations already enjoy decent market positions in terms of subscriber and revenue market share in all six circles.  The company is aiming to take a number 2-3 position in its of the clusters where it participates.

“The decision by India’s Supreme Court in February to revoke all our licenses took the entire industry by surprise and we were faced with an intense period of uncertainty for the next 10 months,’’ said Jon Fredrik Baksaas, Telenor Group Chief Executive Officer and President. “An extraordinary turnaround operation followed and very early on we left no doubt about our intentions to stay and secure our future operations in India. Telenor has a growth strategy and we consider India to be one of the world’s biggest growth markets for many years to come.”

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