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TEL: Telenor wins India tax case in final court decision

Telenor
The Appeals Selection Committee of the Supreme Court has decided that appeal by
the government over ruling from the Court of Appeal is not allowed to be heard
by the Supreme Court. The Court of Appeal ruled for the main parts in favor of
Telenor ASA in a tax case concerning losses on guarantees for financing in the
Indian subsidiary Unitech Wireless, and this ruling is now final. The
authorities are obliged to repay the resulting tax amount together with
interest, estimated at NOK2.4 billion in total. While the exact timing of the
repayment is uncertain, it is expected to take place in the first quarter of
2024.
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