Unitech up on Telenor stake hike in Wireless

Unitech  finally settled at 2% higher at Rs 72, with trades of around 9.28 million equity shares on the BSE.
______________________________________________

(Updated at 1429hrs)

Unitech has moved up 4% to Rs 74, after the company received an aggregate amount of Rs 2,022 crore from Telenor Aisa Pte Ltd on acquisition of further 7.15% stake in Unitech Wireless, a subsidiary of the company, by way of issuance of fresh shares.

Around 5.73 million equity shares have changed hands on the counter so far on the BSE.

Taking into account the existing investment of Rs 4,113 crore made by the Telenor, its total investment in United Wireless amounts to Rs 6,135 crore and with this, total shareholding of Telenor in the issued and paid-up share capital of Unitech Wireless shall increase from 60.1% to 67.25%.