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India: Defunct Telenor/Unitech project cannot transfer business in Telewings stake sale, says CCI

By  |  December 7, 2012

Lakshdeep Investment and Finance has been approved by the Indian Competition Commission to take a 51 percent stake in Telewings, Telenor’s new Indian unit. The approval came with a catch, however: the CCI has not approved of Uninor, the now-defunct joint project between Telenor and Unitech, to transfer its business as well, as it is not considered an intra-group asset transfer. Uninor had its licenses revoked by the Supreme Court last February after what reports say was a bitter split between Unitech and Telenor.

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