New Delhi: Norway based telecom company Telenor is now searching for options to end its ties with 2G-tainted Unitech Telecom Company in India. In an effort to save the telecom license and investments in India, Telenor officials have contacted several ministers.

Telenor is already facing the music for its investment in India. The company has to strictly abide by the Telecom governance rules in Norway, which clearly mentions that any member of Board of Directors, Chairman or senior official named in any controversy has to resign with an immediate effect. This was the reason that compelled Chairman of Unitech Wireless, Sanjay Chandra, to submit his resignation papers.

Sources say that even after Chandra’s resignation, Unitech and Telenor relations have not ameliorated. The situation has dipped to the extent that if Telenor wants to remain in Telecom business in India, it will have to maintain distance from Unitech.

Telenor after getting the show-cause notice from the government is making desperate efforts to convince the Centre. Sigve Brekke, Head of Telenor Asia Region, has even held meetings with several ministers.

The Company after taking a loan of Rs 6000 crore from banks has made many investments in India and is therefore making best possible effort to save its telecom license.

 

JPN/Bureau