Norway’s Telenor is seeking to raise about $1.68 billion in its Indian joint venture, Times of India reports. Telenor and Indian real-estate developer Unitech are partners in Unitech Wireless, which offers mobile-phone services. Telenor, which owns 67.25 percent of the joint venture, intends to raise cash via combination of rights issue and debt, although the local partner Unitech remains non-committal on equity investments. The company may induct a second Indian partner if Unitech does not take part in the rights issue.
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