Telenor Group has given the fourth and final round of the planned fresh equity investment to Uninor. Uninor, which is the brand name of United Wireless, specified that Telenor Group, with this investment, has pumped in total of Rs.
6,120 crore of new equity into the company, taking its ownership to 67.25 per cent, as per the shareholders' agreement.

Uninor's application to increase its foreign shareholding up to 74 per cent in 2009 was approved by the Cabinet Committee on Economic Affairs (CCEA).

A sum of Rs. 2,022 crore was acquired by Unitech Wireless from Telenor Asia for the acquirement of 7.15 per cent stake in the company by way of issuance of fresh shares.

It was specified by Stein-Erik Vellan that as decided by the shareholders, Telenor group's investments in Uninor are now complete. The investment would be used by Uninor as working capital to bolster its operations in the eight circles launched last year and start operations in new circles in 2010.

A release by the company said, "Uninor aims at achieving earnings before interest and depreciation break-even within three years and operating cash flow break-even within five years of launch of operations and a market share of eight per cent by 2018."

The services by Uninor were released successfully in December 2009 in eight circles across India.