Bloomberg News

Telenor Shares Fall as India Court Cancels Permits: Oslo Mover

February 02, 2012

Feb. 2 (Bloomberg) -- Telenor ASA fell as much as 3.1 percent in Oslo trading after an Indian court canceled 122 mobile-phone permits including those granted to its Indian venture Uninor.

India’s Supreme Court canceled 122 mobile-phone permits whose sale in 2008 sparked the nation’s biggest corruption investigation and led to the jailing of a former minister.

Telenor dropped 2.4 percent to 95.7 kroner as of 9:01 a.m. local time.

“Telenor has yet to review the ruling and will be able to comment further once we had a chance to review it,” the company said in a statement today.

To contact the editor responsible for this story: Meera Bhatia at mbhatia2@bloomberg.net


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