With reference to earlier annoucement dated October 29, 2008, Unitech Ltd has now informed that the telecom deal with Telenor is expected to close in January 2009 instead of December 2008. The closing of the transaction is subject to certain conditions being fulfilled. Unitech Group and its partner, Telenor, anticipate that not all conditions for closing will be fulfilled before December 2008. Both the parties thus expect to close the transaction during January 2009.
Further the Company has informed BST that the Company signed a binding agreement with Telenor on October 28, 2008 and are now completing all the formalities. Both the parties have made significant progress on the transaction. During this period, the Company have also made a lot of progress on various launch related activities, e.g. network order placement, tower sharing, recruiting and acquisition of offices/facilities in circles amongst many other things.
Further the Company has informed BST that the Company signed a binding agreement with Telenor on October 28, 2008 and are now completing all the formalities. Both the parties have made significant progress on the transaction. During this period, the Company have also made a lot of progress on various launch related activities, e.g. network order placement, tower sharing, recruiting and acquisition of offices/facilities in circles amongst many other things.
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