Telenor cites fund crisis, seeks refund of R1,651-cr entry fee

Norwegian telecom operator Telenor, which holds a 67.25% stake in Uninor whose 22 licences were cancelled by the Supreme Court in February, has sought a refund of the R1,651-crore entry licence fee from the government, citing a funds crisis. The company has said that the cancellation has created uncertainty wherein the company’s shareholders and lenders are not willing to fund it to sustain operations.

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