  The historic Supreme Court verdict on Thursday canceling 122 spectrum licences, it seems, has began to take its toll with Norwegian telecom firm Telenor exploring the option of withdrawing from the Indian market, according to Reuters.
The apex court gave the verdict in the face of ongoing 2G spectrum case which is turning out to be biggest scam in independent India.
The company called it a serious attack on its investment.
The company’s 22 licences which it holds via its India arm Uninor are among those cancelled by the apex court. It said the ruling has serious retroactive consequences and withdrawing from India is one of the options it is looking to.
"That is one alternative that is on the table", Reuters quoted Jon Fredrik Baksaas as saying.
The Telenor’s investors and analysts after the SC gave its verdict are insisting that the company should quit India.
"We met every inch of that regulation of that licence. We have brought competition to the Indian market ... just to see a ruling that has significant retroactive consequences. It is an action that we have never seen in any country before", the chief executive was quoted by Reuters as saying. |