NEW DELHI: Norway-based Telenor
has decided to partner with Lakshdeep Investments & Finance Pvt. Ltd for its new Indian Telewings venture to jointly bid for new mobile telephone licenses, according to Telenor.
Lakshdeep will be replacing Unitech as Telenor's Indian partner after Uninor venture's licenses granted in 2008 licensing round were cancelled.
Lakshdeep is a firm controlled by Sudhir Valia. Telenor will be holding majority stake of 74% in the JV. .
Telenor has submitted an application for prequalification in the next auction as it is hoping to continue its presence in India despite the cancellation of permits.
The Supreme Court had cancelled 122 regional operating permits held by eight telecom players earlier this year, which compelled the operators to reapply for their permits.