New Delhi: Real estate developer Unitech today said it is in talks with global telecom players to divest 26-45 per cent stake of its telecom unit within a month.

"We are in talks with two-three global telecom players to divest 26-45 per cent stake in our telecom unit... The deal is likely to be finalised within this month," Unitech Managing Director Sanjay Chandra told reporters here.

According to sources, Unitech was looking to raise over 1.5 billion dollar from the stake sale.

Reacting to reports that the company have identified Norwegian telecom group Telenor to sell a stake in its nascent telecom venture, he said, "Telenor is not the only player... We are in talks with two more players."

However, he declined to divulge any further details.

Unitech has already invested Rs 2,000 crore in its telecom venture and plans to start operations by the first half of next year, he said.

Talking about the valuations, he said that the valuations has not been impacted by the current market situations.

Earlier this month, Telecom Minister A Raja had said that he was told Unitech had almost finalised a foreign partner and had entered into a term sheet with the firm.

Unitech Wireless, has licences to operate in India's 22 service areas.

Source : PTI