Norway's Telenor Group Friday said it has fully acquired its India unit Telewings, which operates under the brand name of Uninor, a company statement said here.
It acquired remaining 26 percent ownership stake in Telewings that was held by Lakshdeep Investment and Finance.
The process was finalized after Telenor received approval from the Indian government's Foreign Investment Promotion Board (FIPB) to increase its stake from 74 percent to 100 percent.
"Telenor Group has a long-term view on India, and we are encouraged by the strong growth of our Indian operation. The company continues to capture market share every month and is leading in new subscriber additions in many of its circles," said Sigve Brekke, executive vice president of Telenor Group and chairman of the Telewings board.
Telenor's Indian arm is present in seven circles with a total population of around 600 million people. The company has participated in two separate auctions to acquire spectrum in the range of 5 Mhz to 7.2 MHz in seven circles.
The company will also launch services in Assam early next year, the statement added.
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