Profit

Unitech to raise $1 bn through stake sale

PUBLISHED ON: May 13, 2008 | Duration: 2 min, 32 sec

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Real estate major Unitech is looking at raising around $1 billion through a stake sell in its telecom venture Unitech Wireless to fund its mega expansion plans. NDTV has learnt that Unitech is looking at divesting 30-35 per cent stake to raise $1 billion valuing the enterprise at around $3 billion. The company expects to finalise the deal by the beginning of June.
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