wordpress blog stats
Connect with us

Hi, what are you looking for?

Uninor Breaks Even In India; Appoints Morten Karlsen Sørby As CEO

Telenor Group has appointed Morten Karlsen Sørby as the new Uninor CEO with immediate effect, subject to regulatory approvals. He will be replacing Sigve Brekke who was serving as Uninor's acting CEO for the past three months after the former CEO Yogesh Malik quit in November 2013 citing personal reasons. Telenor mentions that Brekke will now continue in his earlier role of Executive Vice President and Head of Telenor Group’s Asia Operations. Prior to this appointment, Sørby was serving as the Executive Vice President of corporate strategy and regulatory affairs in Telenor Group for the past two and a half years. Before that he was the Executive Vice President and head of Telenor's Norwegian and Nordic operations. Sørby had joined Telenor in 1993 and has been a member of Telenor Group's executive management team since 2003. Uninor Achieves Break-Even in 2013 Coinciding with this appointment, Telenor Group also mentions that Uninor has reached cash flow break even at the end of 2013, on track with the telco's plans. Uninor had earlier achieved EBITDA break even in five of its six circles – UP (West) and Bihar, UP (East), Gujarat and Andhra Pradesh and was looking to achieve break even in Maharashtra circle (which includes Goa) by end of 2013. It claims to currently have 26 million connections across these six circles. Earlier this month, Telenor Group had increased its stake in Telewings, which provides telecom services in India under the Uninor brand, to 74% after receiving FIPB approval to increase its stake and invest up to Rs 1,000 crore in the JV in June 2013. With time, one can…

Please subscribe/login to read the full story.
Written By

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ