Telenor looking for a new partner to start fresh in india

One of the new telecom operator Uninor’s 122 licences got cancelled by the Supreme Court in Feb 2012, Now they are looking for a new partner to start freshly.
Uninor is a joint venture between Norwegian Telenor and Indian realty major Unitech. The Norwegian government holds the majority stake (Around 70%) in Telenor. As the case is still going on in court, telenor looking for a new partner and already some interested parties have been approached and the FIBP (Foreign Investment Promotion Board) application also filed.They don’t want to disclose much info about the future plans.
Uninor is currently working on the following things
1)Find a solution with the current partner(Unitech) before applying for new licence
2)New partner to come in, Once solution is finalized with Unitech
3)transfer assets from the old company into the new company

Both Unitech and Telenor have been fighting a legal encounter over the control of Uninor. Unitech has already approached the Company Law Board (CLB)seeking mediation in the issue. So far telenor has invested about Rs 15,000 cr in India.Because of this licence cancellation dispute uninor lost around 20% subscribers in india

In Feb 2012, uninor became 2nd largest operator in tamilnadu with 3.21 lakh customer’s addition and Aircel is in 1st position with 3.43 lakh. In Tamil Nadu, Uninor has about 3,500 retailers and has more than 19 lakh customers in total.