Telenor settles dispute with India

Norwegian telecom group Telenor said on Thursday that it has settled a dispute with former Indian joint venture partner Unitech, after their jointly owned company's licences were cancelled by a court. Unitech has agreed to sell its share in the venture, Uninor, for "a nominal amount", Telenor said. The terms of the deal are covered by a confidentiality agreement.
The settlement ends all legal proceedings launched by the two parties against each other, and removes a stumbling block in the country for Telenor, which contemplates bidding in India's upcoming 2G spectrum auction.