November 14, 2012 / 2:37 PM / 5 years ago

Telenor to pay $731 mln for new Indian licenses

OSLO, Nov 14 (Reuters) - Norwegian telecoms firm Telenor won licenses in six Indian circles for a total spectrum fee of 40.18 billion rupees ($731 million), the firm said on Wednesday.

Of the total fee, 33 percent is due within 10 days and the rest will be paid in ten equal instalments between 2015 and 2024.

It added that a licence fee of 16.58 billion rupees paid by its previous Uninor joint venture may be used as an offset against its first new payment.

$1 = 54.9700 Indian rupees Reporting by Balazs Koranyi

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