Guest Posted By : Shehzad Lodhi
Officials of Telenor Pakistan and Zong will be meeting in Britain next month to finalize the purchase of 60 % shares of Telenor Pakistan by Zong. Telenor agreed to purchase 67. 27 majority shares of Uni Tech Telecom Company in India against selling of Majority shares of Telenor in Pakistan.
According to company sources, Telenor invested in India through finalizing the purchase of 59 % shares of Uni Tech Telecom Company in October 2008. 6 Thousand 01 Crore Indian Rupee was invested in an Indian company by telenor. In March 2009, additional 7.29 Percent shares were sold to Telenor.
The Telenor Company sources further said that Indian Telecom Authority asked Telenor to sell its majority shares in Pakistan in order to be given permission to operate in India.
Having agreed to it, Telenor held discussions with different international telecommunication groups to sell 67 % shares. Source : Daily AajKal
Officials Totally Denied any kind of purchase of shares, confirmed that these are just rumors and no bases of this news exists. This is a marketing tactics by different companies.
