­Indian green-field mobile operator, Unitech Wireless has confirmed that Norway's Telenor is one of three companies it is in talks with regarding an investment. Telenor has been named in the past as a possible bidder for a stake in the firm, but has always refused to comment on media reports.

"We are in talks with two-three global telecom players to divest 26-45 per cent stake in our telecom unit... The deal is likely to be finalised within this month," Unitech Managing Director Sanjay Chandra told the Business Standard, adding that "Telenor is not the only player... We are in talks with two more players."

Telenor has been rumoured to be looking to take a stake in the firm worth up to US$1.5 billion. Earlier reports that Telecom Italia was also seeking to take a stake in the firm fell to nothing. Kuwait's Zain is also understood to be in talks to take a stake in the Indian company - but is thought to be holding out for a majority stake.

Previous reports have suggested that the new investor would form a new company and invest cash - with Unitech transferring its licenses as equity to the firm.

Unitech has already invested Rs 2,000 crore in its telecom venture and plans to start operations by the first half of next year, Chandra added.

Source: Business Standard