Unitech to offload 26-45% stake in telecom biz

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Unitech to offload 26-45% stake in telecom biz

Real estate developer Unitech on Friday said it would divest 26 per cent to 45 per cent stake in its telecom venture to a strategic partner, within a month.

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New Delhi, Oct. 24:

Real estate developer Unitech on Friday said it would divest 26 per cent to 45 per cent stake in its telecom venture to a strategic partner, within a month.

"We will divest between 26 per cent and 45 per cent stake in the telecom venture. We are looking for a strategic partner who can help us build the telecom business," Unitech Managing Director, Mr Sanjay Chandra, said on the sidelines of a CII event.

Unitech is among the few companies, which had recently bagged telecom licences along with Swan, Datacom and Shyam Telelink. It has received licences for 22 circles and spectrum in 13 circles.

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