Unitech Wireless is in talks with Reliance Communications and Tata Teleservices for sharing towers, a move important in securing funding from Norwegian firm Telenor, which seeks to buy a 60 per cent stake in the Delhi-based realtor-promoted company.
“Unitech Wireless is expected to close the telecom deal with Telenor by early February ...The negotiations for tower-sharing, which is one of the preconditions for closing the deal, are at an advanced stage and the company is expected to sign the tower-sharing agreement sometime next week,” Unitech CEO Sanjay Chandra said.
According to company sources, Unitech is in talks with Tata Teleservices and Reliance Communications.
Telenor last week said that the transaction was expected to be completed during the first quarter of 2009.
Telenor, in which the Norway government holds a majority stake, is seeking options other than the rights issue proposed to the government to fund the Rs 6,120 crore deal. It has appointed Deustche Bank to suggest ways of raising funds.
