Real estate company Unitech is planning to merge its eight telecom subsidiaries to consolidate and better manage its telecom business. Each subsidiary has licences for three to four circles and together, they cover all 22 telecom circles in the country.

Meanwhile, Unitech's move to offload 60 per cent stake in its telecom ventures to Norway-based Telenor has got delayed as the latter has not yet been able to raise funds for the transaction. Also,the deal is contingent on the completion of tower-sharing agreements between Unitech and other service providers and conversion of all eight subsidiaries into private limited companies.

According to Unitech, while five subsidiaries have already been converted, three will turn into private limited companies soon.

The company has also stated that its agreements with other service providers for tower sharing are close to completion.