Te­lenor to Write Down NOK 3.9 bn In­dia Ex­po­sure

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Te­lenor ASA ex­presses con­cern over the ac­cep­tance of Trai’s pro­pos­als on spec­trum auc­tion by DoT. Te­lenor says that it would be forced to exit the In­dian mar­ket if the cur­rent plans for spec­trum auc­tion goes ahead. Its exit plan is also due to the can­cel­la­tion of 2G li­censes. Te­lenor would write down In­dia ex­po­sure in its Q1 2012 fi­nan­cial re­sults and it would be pre­sented on May 8, 2012. The com­pany said that as a pre­cau­tion­ary mea­sure, Te­lenor ASA has de­cided to write down the re­main­ing fixed and in­tan­gi­ble as­sets in In­dia amount­ing to NOK (Nor­we­gian Krone) 3.9 bn (NOK 2.6 bn af­ter non-con­trol­ling in­ter­ests)

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