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Unitech nominees withdraw from Uninor board

Source : BUSINESS_STANDARD
Last Updated: Fri, Oct 12, 2012 03:34 hrs
A girl walks past in front of a closed shop displaying the Uninor logo on its shutter in Mumbai

Telenor in a statement today said that Unitech Limited's nominees have withdrawn from the Uninor Board "With immediate effect", and consequently, all their special shareholder rights stand suspended.

The company also said that subsequent to a successful business transfer and spectrum auction, all disputes and claims between the parties shall stand withdrawn/concluded.

Unitech wireless operates in 13 circles though it has a pan India licence. It has also said that it would like to scale down its operations to only nine circles.



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