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Unitech says reached settlement with Telenor

UNITECH-INDIA-TELENOR:Unitech says reached settlement with Telenor

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Reuters MUMBAI

 

REUTERS - Unitech:

* Says reached settlement with Telenor

* Says amicably agreed to settle all disputes with Telenor

* Says not able to provide details of settlement due to confidentiality obligations

* Says parties agreed to support transfer of business in Unitech wireless to new entity controlled by Telenor

* Says Unitech Ltd nominees will withdraw from uninor board, all special shareholder rights will suspended

* Says agreed to dispose of shareholding in Uninor for nominal amount

* Says shall will continue to retain economic rights on current stake in Unitech wireless

* Source text: http://link.reuters.com/cuf33t

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First Published: Oct 11 2012 | 9:40 AM IST

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