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Report: Telenor mulls India exit

Telenor ASAis considering an exit from the Indian telecommarket due to the lack of 3G and 4G services, as well as little data spectrum, The Economic Times (India) reportedApril 11, citing two people familiar with the matter.

The Norwegianoperator has reportedly been unable to find a buyer for its Indian business,which it seeks to divest for as much as $1.8 billion. Industry experts saidTelenor could raise about $1 billion at best from its Indian assets, whichmainly include spectrum.

Telenor only operates 2G services in six of the sevencircles, or geographical zones, across India where it owns spectrum. It wassupposedly planningto expand its Indian operations, as well as offer 4G services in up to eightcities across the country.

A Telenor spokesperson reportedly refused to comment.