Telenor’s Indian unit to launch rights issue in ‘12-exec

“I don’t have any exact timeframe, but of-course there are certain steps and processes that we need to follow so it will take some months. It will not happen this year,” Brekke, who is also the chief executive of Unitech Wireless told Reuters.He said “yes” when Reuters asked if the rights issue will definitely happen next year.Telenor owns 67.25 percent of the joint venture while Indian real estate firm Unitech owns the remainder.The rights issue has been delayed after Unitech obtained a court’s “stay order”, which Telenor said has been cleared by another Indian court, allowing the to proceed with the planned issue. . ($1 = 48.955 Indian Rupees)