New Delhi: Amid indications that it may seek review of the Supreme Court order that cancelled 122 2G licences, Norwegian Telecom firm Telenor, the majority stakeholder in Uninor, on Friday said it will take all measures to protect its lawful investments.
    
"Telenor Group wants to be clear that the Uninor operations are continuing. Our intention is to fight to protect our lawful investments in the country. We are looking to the Government to arrive at a fair solution. We expect that the intention remains of bringing new competition to India,"

Telenor Group said in a statement. The company entered the Indian telecom market through investment in Unitech Wireless and now holds 67.25 per cent ownership share in the company.
 
Uninor is one of the affected telecom companies by the judgment of Supreme Court. The apex court cancelled 122 2G licenses yesterday terming them illegal and asked the
government to issue spectrum by way of auction after seeking regulator TRAI's recommendations.
    
"The Norwegian Government has announced that they are monitoring the situation and will actively contribute to find solutions to secure Telenor's investments and presence in
India," Telenor's statement added.
     
Telenor Group said that it has already invested over Rs 6,100 crores in equity and over Rs 8,000 crores in corporate guarantees as a foreign investor that trusts a license stamped
by the Government of India.
    
According to TRAI, Uninor had 36.30 million subscribers by end of December 2011.
 
The joint venture has rolled out services in most of the circles it got spectrum and is one of the most aggressive players among the new operators.

(Agencies)