By IANS,
New Delhi : Unitech Wireless has secured a loan of Rs.5,000 crore (about $1 billion) from State Bank of India (SBI) to fund its mobile network rollout, the company said Tuesday.
Unitech Wireless is a joint venture between Norwegian telecom giant Telenor and real estate major Unitech.
Unitech plans to roll out its services by December and has partnered with companies such as Wireless-TT Info Service Ltd, Quippo Telecom Infrastructure, Alcatel-Lucent, Wipro and Huawei Technologies India for infrastructure and managed services.
The company had sought the government’s approval to raise its foreign shareholding to 75 percent. But the government Tuesday deferred a decision on it.
Telenor currently has 67.25 percent stake in the joint venture.