Telenor acquires more 11pc stake in Uninor

NEW DELHI, Jan 9 (Economic Times): Norway's Telenor Friday bought 11 per cent more in Uninor, the mobile phone joint venture with real estate developer Unitech, for Rs 15 billion. The move will help the Indian venture fight the tariff war in the fast-growing wireless market.

"This third investment, as the earlier transactions, will provide Uninor with working capital to fund roll out of services across India," its executive vice-president and head of Asian operations, Sigve Brekke said in a statement.

With this investment, Telenor Group's stake in Uninor raises to 60.1 per cent and it has the option to raise it to as much as 67.25 per cent. The Norwegian company will invest the fourth and final tranche by the end of this fiscal.

Telenor acquires more 11pc stake in Uninor

NEW DELHI, Jan 9 (Economic Times): Norway's Telenor Friday bought 11 per cent more in Uninor, the mobile phone joint venture with real estate developer Unitech, for Rs 15 billion. The move will help the Indian venture fight the tariff war in the fast-growing wireless market.

"This third investment, as the earlier transactions, will provide Uninor with working capital to fund roll out of services across India," its executive vice-president and head of Asian operations, Sigve Brekke said in a statement.

With this investment, Telenor Group's stake in Uninor raises to 60.1 per cent and it has the option to raise it to as much as 67.25 per cent. The Norwegian company will invest the fourth and final tranche by the end of this fiscal.

JS likely to pass two new ins bills

TOKYO, Jan 3 (Reuters): The Tokyo Stock Exchange(TSE), Asia's largest equities bourse, said it would go ahead with the launch of its new trading system as planned Monday after running final checks.

The new system will be able to process trades in five milliseconds, 600 times faster than the two to three seconds needed on the current system, and roughly the same speed as the New York and Londonstock exchanges.

A spokesman the TSE said the exchange ran final checks on the system, called "Arrowhead," and determined that it was ready to be launched as planned on January 4, the first trading day of 2010.

Analysts say Arrowhead should allow for more computer-driven trading including so-called high-frequency trading where algorithms are used to trade thousands of shares in milliseconds to profit from tiny spreads and market imbalances.

The TSE, which plans to go public after April 2010, is betting on Arrowhead after several embarrassing computer glitches tarnished its image with investors.

Last month the exchange was ordered to pay $120.5 million in damages to Mizuho Securities for a botched trade in 2005.

A 2006 accounting scandal at Livedoor Co sparked a massive sell-off of the Internet company. Unable to handle the rush of orders from panicked investors, the TSE had to curtail its trading hours for three months.