Posts filed under ‘Norway’
Reuters is reporting that Norwegian telecoms group Telenor has withdrawn plans to carry out a share issue to fund investment in Indian cellco Unitech Wireless. Telenor has announced it will instead raise funds for the mobile operator through cash flow and net debt, also revealing that it has signed a USD1.2 billion three-year loan agreement. The company has also proposed that there will be no dividend payout in 2008 or 2009. Commenting on the development a statement from the operator noted, ‘Closing of the Indian transaction is subject to certain conditions being fulfilled…(and) Telenor anticipates that this will take place during the first quarter of 2009.’
In separate but related news, Unitech Wireless is reportedly in talks regarding a tower sharing arrangement with Reliance Communications (RCOM) and Tata Teleservices (TTSL). A tower sharing agreement is one of the preconditions of the Telenor acquisition of a 60% stake in Delhi-based Unitech Wireless.
TeliaSonera has selected Ericsson for the initial 4G city network in Stockholm and Huawei for the initial 4G city network in Oslo. The 4G services in Stockholm and Oslo are slated for commercial launch in 2010. In Stockholm, Ericsson will perform network implementation services and will manage the network during the initial operation period. The agreement between Ericsson and TeliaSonera also includes a long-standing partnership where both parties will jointly evolve the way consumers use mobile broadband with LTE. The new 4G networks will offer about 10 times higher data rates compared to today’s mobile broadband network. The contract between TeliaSonera and Ericsson is Ericsson’s first for commercial deployment of LTE. Under the agreement with Huawei, the Chinese equipment maker will provide LTE base stations, core network and OSS covering Oslo. Huawei will also provide services including network design, implementation, systems integration and support.