Telenor in new Indian partnership with Lakshdeep

Norway's Telenor has signed a partnership deal with India's Lakshdeep Investments & Finance to take part in its Indian venture that may bid for a new operating license, it said on Friday.

Lakshdeep, a company controlled by Sudhir Valia, will contribute an undisclosed amount of equity into the Telewings joint venture, in which Telenor will hold a 74 percent stake, Telenor added.

Sudhir Valia is the wholetime director of Sun Pharma and Lakshdeep Investments holds 1.07% stake in the company.

Telenor says that all Uninor assets to be transferred into the new joint venture.