Telenor aims to break even in India soon

Dylan Bushell-Embling
16 Oct 2014
00:00
News
Daily News

Norway's Telenor expects to break even at its Indian venture soon, and is considering an expansion into more Asian markets.

Speaking at an event covered byPress Trust of India, Telenor chairman Svein Aaser said its Uninor venture has 40 million subscribers in India and the company hopes to break even soon.

Telenor has a 67.25% stake in Uninor. The company has had a turbulent history in India due to the effects of the fallout over the decision to revoke 122 telecom licenses due to alleged collusion by a former telecom minister.

This history involves a dispute with former partner Unitech over the minority stake in the venture.

Aaser said Telenor now plans to expand into other parts of Asia in collaboration with IT service provider Wipro. Because of its Indian experience the company is choosing better partners, he said.

Telenor's new Myanmar subsidiary launched 3G services at the end of last month. The company has set a target of covering 83% of the population for voice services and 78% for data within five years.

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