Telenor awarded spectrum in six telecom circles in India
(Thomson Reuters ONE) -
(Oslo/New Delhi 14.11.2012) Telenor Group today announced that the company has
been successful in securing spectrum license to provide mobile telephony
services in six telecom circles in India. Telenor's total bid in the spectrum
auction was INR 40.18 billion (NOK 4.2bn) of which 33 per cent is to be paid up
front.
The Indian Department of Telecommunications has informed Telenor that the
company secured 5 MHz of spectrum in Andhra Pradesh, Uttar Pradesh East, Uttar
Pradesh West, Bihar, Gujarat and Maharashtra. With a total population of about
600 million people and an actual mobile phone customer penetration of just 40
percent, these states represent a strong growth opportunity for Telenor Group.
All Uninor assets in these circles, including customers, employees, partners and
infrastructure will be seamlessly transferred to the new company and services
will continue uninterrupted.
"I am very pleased that Telenor Group has acquired the necessary spectrum to
provide mobile services in India, as a continued presence in the country is
important for our growth strategy. Since Telenor started operations in India we
have proven our industrial capabilities by establishing a cost-efficient and
highly competitive mobile operation with a significant customer base. The fresh
licenses provide clarity for customers, operators and partners after a long
period of uncertainty. We are looking forward to a more predictable and stable
regulatory environment," said Telenor Group President and CEO, Jon Fredrik
Baksaas.
"Today we have won spectrum the 6 most populous circles in India. These are also
the areas where we enjoy a strong position already, and where we see the highest
potential for continued growth and profitability. All of these circles are about
to deliver on the financial targets of becoming break-even in 2013," said Sigve
Brekke, Executive Vice President and Head of Telenor Group's Asian Operations.
"The ten months of uncertainty after the license cancellation have tested the
organization's ability to keep focus, growth and talent intact. Emerging
successful in that test means that a much stronger, confident and competitive
team has now won back its right to continue. We have brought competition and
affordability to the Indian telecom sector, and I promise that we will continue
to do that in the future," said Sigve Brekke.
Telenor will continue the process of transferring its business assets from
Uninor into the new company in a way that is seamless for its remaining 34
million customers (TRAI figures). Telenor was not awarded spectrum in Mumbai,
Kolkata and West Bengal. In these circles operations will cease in accordance
with Indian law and regulations.
Telenor Group will invite media and analysts for a more detailed presentation at
a later stage.
For further information:
Glenn Mandelid, Telenor Asia, tel: +66 82 440 1122
e-mail: glenn.mandelid(at)telenor.com
Dag Melgaard, Telenor Group, tel: +47 901 92 000
e-mail: dag.melgaard(at)telenor.com
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Telenor via Thomson Reuters ONE
[HUG#1657937]
Unternehmensinformation / Kurzprofil:
Datum: 14.11.2012 - 15:28 Uhr
Sprache: Deutsch
News-ID 203507
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