Key Developments: Unitech Ltd (UNTE.NS)

UNTE.NS on National Stock Exchange of India

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Unitech Ltd in discussions to sell subsidiary and to form a strategic alliance with a third party
Thursday, 3 Apr 2014 

Unitech Ltd:Says that Unitech Corporate Parks Plc (UCP) received an approach from a third party expressing interest in potential acquisition of its wholly owned subsidiary Candor Investment Limited and it is in discussions regarding a possible sale of this subsidiary.Says it has also been approached by a third party in relation to strategic alliance for carrying out the remaining development of the IT SEZs / Parks under development along with the potential acquisition of its stake in certain IT SEZs / Parks.  Full Article

Unitech Ltd Does Not Recommend Dividend
Thursday, 30 May 2013 

Unitech Ltd announced that the Board of Directors of the Company at its meeting held on May 30, 2013, inter alia, has not recommended any dividend for the financial year 2012-2013.  Full Article

Unitech Ltd And Telenor ASA Reaches Settlement-DJ
Thursday, 11 Oct 2012 

Dow Jones reported that Telenor ASA and Unitech Ltd have reached an agreement to amicably settle all disputes between the two parties. The parties are bound by confidentiality obligations, and are therefore not able to provide any further comments on specific terms and conditions in the settlement. However, it can be confirmed that the parties agree to support the transfer of the business in Unitech Wireless (Uninor) to a new entity (NewCo) controlled by Telenor. Unitech Ltd. has agreed to dispose of its shareholding in Uninor for a nominal amount. Unitech Ltd. shall also continue to retain its economic rights associated with its current shareholding in Unitech Wireless.  Full Article

Telenor ASA Partner Unitech Ltd Agrees To Exit JV;-Reuters
Thursday, 11 Oct 2012 

Reuters reported that Unitech Ltd the Indian partner of Norwegian telecommunications group Telenor ASA has agreed to sell its share of their mobile phone joint venture (JV), the Indian company said, in what it termed as an amicable settlement after months of dispute. Unitech has agreed to sell its stake in the joint venture, which operates under the Uninor brand, for a nominal amount, it said in a statement to Indian stock exchanges on October 11, 2012. The Company declined to comment on terms and conditions. It said the two companies had agreed to transfer the joint venture's assets to a new entity controlled by the Norwegian company.  Full Article

Unitech Ltd Does Not Recommend Dividend
Tuesday, 14 Aug 2012 

Unitech Ltd announced that it has not recommended any dividend for the financial year 2011-2012.  Full Article

Telenor ASA Plans to Exit from Joint Venture with Unitech Limited-DJ
Thursday, 31 May 2012 

Dow Jones reported that Telenor ASA plans to end its joint venture with Unitech Limited before India starts the process of auctioning mobile-phone frequencies. Telenor is already in discussions with some firms to finalize a new partner. Telenor owns 67% of Unitech Wireless, while Unitech holds the remaining part. The companies have a legal dispute over control of the joint venture.  Full Article

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