An interesting chapter to showcase how India is losing FDI in the last 10 months is the case of the Telenor
litigation Telenor is using the Norwegian or Singapore treaties due to the feature of the “best available facilities between any two countries’ clause we use in our DTAA which is fair. Also Telenor wants to be reimbursed for the pain it has suffered, and very frankly it is more than reasonable even as the Government toys with the Idea of reallocating spectrum in a new auction. It is important that someone like Telenor stay around and auctions are done at market prices. However we will have to chosose wisely as to how much we negotiate and how fast and simply we can review the issues and churn out a non befuddled rules and big business friendly ruling from the government offices involved on this
Telenor owns 66% of Uninor, in the midst of finding another partner and handsome Indian suitors busy finding a low price which Telenor is not interested in. Also Telenor wants to keep all its sunk costs safe but will have to likely participate in an auction as of now..No, this ship could trunaround without docking at that pole.
- Battered partnership of Telenor – Unitech (India, Norway) (wirelessfederation.com)
- Telenor to start new venture in India (Norway,India) (wirelessfederation.com)
- Telenor, Unitech take fight to CLB (thehindu.com)
- 2G fallout: Norway Minister meets Sibal over Uninor investments (thehindu.com)