Unitech Wireless finalised telecom partner: Raja

New Delhi, Oct 13: A Raja, the Union Communications and Information Technology Minister on Monday, Oct 13 said Unitech Wireless, the telecom arm of realty major Unitech, has almost finalised a foreign partner for its telecommunications venture.

''I am informally told they have entered into a term sheet with some company...it is almost finished'' Mr Raja told reporters here on the sidelines of the South Asian Telecommunication Regulators' Council conference. Unitech will hold the majority stake of 51 per cent in the joint venture telecom company, which will issue fresh shares to the foreign partner.

The company, which plans to roll out its services by next year, had earlier said it expects to invest Rs 20,000 crore in its telecom business over the next three years.

UNI