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BRIEF-Telenor expects to close Unitech deal in January

Tue Dec 23, 2008 5:40am EST

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OSLO, Dec 23 (Reuters) - Telenor (TEL.OL) said on Tuesday:

* It and its partner, the Unitech Group (UNTE.BO), anticipate that not all conditions for closing the Unitech Wireless transaction in India will be fulfilled before year-end.

* The parties thus expect to close the transaction during January 2009.

* The evaluation of alternatives, including the previously announced rights issue of 12 billion Norwegian crowns ($1.71 billion), is ongoing and Telenor intends to announce a decision on the funding of the investment at, or prior to, the closing of the Unitech Wireless transaction.

(Reporting by Oslo newsroom)



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