Hanging up

Norwegian telecom major Telenor on Monday announced it was writing off its assets in India worth over $680 million claiming that “uncertainty has increased significantly” in the wake of the Supreme Court’s ruling in February scrapping its spectrum licences and the recent TRAI recommendations on re-auction of 2G spectrum. Telenor, along with Russian firm Sistema and UAE’s Etisalat, are among global operators who have taken a hit on their balance sheets due to their exposure to India.

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