Norway-based Telenor has written off 4.3 billion kroner as a result of the Supreme Court's ruling to cancel licences.
"According to IFRS accounting standard, Telenor is committed to continuously assess its book value of assets and liabilities. Following the current developments regarding the award of 2G licences, Telenor ASA has decided to write down NOK4.2 billion related to its investments in India," the company said in a statement.
The write down is an accounting exercise and has no impact on the running of Uninor's operations, it added. "Telenor Group intends to protect its lawful investments in the country and we are looking to the Government to arrive at a fair solution," the company said.