By Jussi Rosendahl
Solidium, Finland’s investment arm, built the stake in Nokia by buying shares on the market over the early months of 2018.
Rival Idea Cellular Ltd, too, has raised funds to build a war chest for the battle in the telecom sector.
Aircel and its subsidiaries Aircel Cellular Ltd and Dishnet Wireless Ltd together owe around Rs50,000 crore to creditors.
SK Telecom-Macquarie bid is up against a sole bid by a consortium led by private equity firm CVC Capital Partner.
The order came as a big blow to RCom which had unveiled a plan in December 2017 to sell its wireless assets to Reliance Jio Infocomm Ltd.
The loss from a failed 12-year foray in the Indian wireless market marks Malaysian tycoon T. Ananda Krishnan’s biggest-ever hit on a soured investment.
The entry of Reliance Jio Infocomm Ltd in September 2016 with free calls and cheap data has upended India’s telecom industry.
Bharti Airtel’s move to shed non-core assets follows the blockbuster entry into the Indian market by Reliance Jio that has forced rivals to merge.
Now Corp and Philippine Telegraph and Telephone Corp, have publicly said they are planning to bid.
Deals to start building 5G networks are still largely a year away, but Huawei has signed 25 MoUs with telecom operators.