3:00 PM Frankfurt – Telenor ASA, the Norway-based telecommunication company said it has reached an agreement with its Indian wireless joint venture partner Unitech Ltd. to amicably settle all disputes between the two parties.

Telenor ASA, the Norway-based telecommunication company said it has reached an agreement with its Indian wireless joint venture partner Unitech Ltd. to amicably settle all disputes between the two parties.

Unitech Ltd. has agreed to dispose of its shareholding in joint venture Unitech Wireless Ltd for a nominal amount. The joint venture has about 5% share of India’s 908 million subscriber market.

With the settlement, Uninor will control a new company and will be able to bid for the upcoming bandwidth auction through a new company and with a new partner.