Telenor signals India cut-off if licence cost goes up

Norway’s Telenor could exit India if licence prices at an upcoming auction prove expensive,the head of the mobile phone operator’s Asian operations said

Written by Reuters | Oslo | Published:June 20, 2012 1:23 am

Norway’s Telenor could exit India if licence prices at an upcoming auction prove expensive,the head of the mobile phone operator’s Asian operations said on Tuesday. “It is conceivable that Telenor could pull out of India,” Asia chief Sigve Brekke told reporters. “If we do not believe we can meet our profitability targets,we will exit.” Telenor’s Indian subsidiary is among carriers whose permits are set to be offered again after the original auction was tainted by corruption. A ministerial panel is expected to meet this week to flesh out conditions for the new August 31 auction.

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