Telenor is reportedly in talks with Idea Cellular for a cash-less sale of its Indian unit, which would entail the country’s No 3 mobile phone company taking over all the liabilities of the Norwegian telecom operator’s local business. Telenor India owes close to Rs 1,900 crore to the government in deferred spectrum payments and about Rs 1,800 crore to financial institutions as debt.
The acquisition will help Idea to gain 4G spectrum in the 1800 MHz band, especially in some key circles, while Telenor would be able to exit the Indian market.
Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.
