About Uninor from Telenor Annual Report

Unitech Wireless (Uninor) – India (acquisition of non-controlling interests)
On 7 January 2010, the Group acquired an 11.1% ownership interest in addition to the previously acquired ownership of 49.0%. On 10 February 2010, the Group acquired an additional 7.2% ownership interest, increasing the ownership to 67.3%. The transactions were completed by capital contributions of NOK 1.8 billion and NOK 2.6 billion, respectively. The acquisitions of non-controlling interests have been accounted
for as equity transactions and NOK 768 million have been charged to the equity attributable to the equity holders of Telenor ASA.


Unitech Wireless
On 17 March 2009, the Group announced the acquisition of a 33.5% ownership interest in unitech Wireless in India. The acquisition was completed on 20 March 2009 by a capital contribution in unitech Wireless of NOK 1.7 billion paid in cash. At the same time, it was announced that the Group would acquire 67.3% of unitech Wireless in stages pending regulatory approval. Regulatory approval was announced on 19 October 2009. The Group gains control through the share agreement. The value was set based on fair value after negotiations between the parties.

Unitech Wireless offers mobile services to residential and business customers in India under the brand Uninor