Norway-based Telenor has announced that it has increased its stake holding in Unitech Wireless Ltd., the telecom unit of Indian Real Estate major Unitech Ltd., to 49% by pumping an additional Rs 11 billion.

The authorities of Unitech Ltd stated in a communiqué to Bombay Stock Exchange that eight units of Unitech Wireless on Tuesday (19 May) received the funds for buying the additional 15.5% stake from Telenor Asia Pte Ltd., the Asian unit of the Norwegian telecom major.

The sources said that Unitech also received an additional Rs 2 billion from Telenor in order to maintain the Norwegian telecom operator's stake at 49%.

As per media reports, Unitech is in the process of selling 67.25% stake in Unitech Wireless to Telenor for around Rs 61.

Earlier in March, Telenor has acquired 33.5% stake in the first phase by investing Rs 12 billion.

Telenor is the seventh-largest mobile services company in the world, with about 150 million users in Scandinavia, Europe and Asia.