Norway-based Telenor Group has made the payment of the first installment of Rs 1,250 crore in Unitech Wireless that gave it a stake of 33.5 per cent in the telecom JV.

With this investment, the Norwegian company has made a formal entry into the world’s fastest growing telecom sector.

Speaking on this, Telenor Group President and CEO, Jon Fredrik Baksaas said, “This marks the formal entry of Telenor into the world’s fastest growing mobile market and we are now embarking on an operational phase, and the preparations for the launch of our services.”

With this first installment, Telenor's ownership stake in Unitech Wireless is 33.5 per cent.

The Fornebu-based company had earlier decided to take 60 per cent of the company, but certain fiscal improvements in India led it to take 67.25 per cent stake in the Indian company.

However, some of the economists have criticized Telenor's plans to enter the Indian telecom market as they think it as over crowded market. Apart from this they feel that in the current period of global economic crises Telenor's investment in India will further put Telenor under further pressure and observation.