Telenor, the company which is the technological partner with Unitech, has received approval from its board members to auction off the telecom business under the Uninor brand. Unitech, the only other partner had been vehemently against this auction, but looks like the decision has been made. Coincidentally, the telecom company had begun to show signs of a breakdown with it announcing closure of its operations in multiple circles.
In this embargo, the Supreme Court could be blamed indirectly. Only after the decision to scrap 122 Licenses in the 2G scam, did the trouble between the parties started brewing. While Telenor which owns almost 2/3rd of Uninor, blamed Unitech of poor management, Unitech simply chose to point fingers. While other companies decided to shrug-off the dust & fight again, Uninor continued to be the victim of warring partners, but stood strong nonetheless.
The multi-billion dollar 2G Scam has indeed brought out the worst in the telecom giants. Some have succumbed to the pressures & called its quits, others have knocked on legal doors to seek justice. However, it is very unfortunate that India, which is waiting to embrace newer & faster mobile technologies like 3G & 4G, has to still sort out issues about the decades-old mobile communications standard.
In the case of Uninor, the Norwegian company is not abandoning its Indian Venture. However, owing to in-fighting it is apparently forced to come up with a make or break solution. Uninor will auction its operations & Telenor will be a bidder in the process. If Telenor wins, it will be able to control the company with no say from Unitech. Earlier, there were rumors that Telenor wanted Aircel as its partner, but since amicable negotiations have apparently failed, Telenor must resort to such extreme game-play of becoming a seller as well as bidder for its own Joint Venture (JV).
Do you think Telenor is doing the right thing?
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