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Idea gets DoT nod to raise FDI limit to 100%

Idea Cellular merger process with Vodafone India got a boost after the telecom department (DoT) has approved raising the foreign direct investment (FDI) limit in the company to 100% from the current 67.50%. The FDI approval is a major milestone and follows other statutory approvals received from Sebi, NSE, BSE, CCI and NCLT Mumbai and NCLT Ahmedabad. Vodafone would own 45.1% in the combined entity, while Aditya Birla Group would have 26% and Idea shareholders 28.9%. The merged entity would be known as ‘Vodafone Idea Ltd’. It will be the country’s largest telecom operator with around 430 million subscribers from Day 1.

Read More at Tribune India News date : 5 Jun 2018, Tuesday

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