3rd Feb, 2012, New Delhi: On Friday, Norwegian telecom company Telenor issued a statement telling that the firm will continue to operate in India. Earlier, there were rumors that the telephone firm may shut down their business in India after the Supreme Court of India cancelled the 122 spectrum licenses allotted by A Raja, the former telecom minister on the basis that those spectrums were granted in a fully “arbitrary and unconstitutional” way.
Telenor issued a statement stating, “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 further added, “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.”
After United Kingdom’s Vodafone, Telenor is the second biggest overseas investor in India’s telecom market.