Telenor to write down $682 m India exposure
Oslo, May 1, 2012
Norwegian telecom company Telenor on Monday said it will write down $682 million to remove accounting exposure to India due to uncertain business environment in the sector.
The company said its decision follows spectrum auction recommendations by telecom regulator TRAI after the Supreme Court had cancelled 122 telecom licences, including 22 of the Norwegian firm, in the 2G spectrum case.
“As a precautionary measure, Telenor ASA has decided to write ...
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SBI has Rs.4,500 cr exposure to affected telcos
 NEW DELHI, February 3, 2012
State Bank of India (SBI) on Thursday said it had an exposure of Rs.4,500 crore in the telecom companies whose licences had been cancelled by the Supreme Court in connection with the 2G scam.
The other lenders including Punjab National Bank, Corporation Bank, Oriental Bank of Commerce too have exposure in these telecom companies.
“I don't think we will be affected much by the verdict. We have a fund-based exposure of Rs.1,100 crore in five ...
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