Tuesday, January 27, 2009

What's taking Telenor so long?

NORWEGIAN telecommunications giant Telenor ASA is expected to miss its deadline again.

The phone company said that the acquisition would be completed first quarter this year.

"Closing is subject to certain conditions being fulfilled, and Telenor now anticipates that closing of the transaction will take place during the first quarter of 2009," Telenor ASA said in a statement.

The company, which was expected to seal its Indian acquisition deal by end 2008, had announced last month that it would "meet the conditions" by end January 2009. It appears highly unlikely it can seal the deal before end January.

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