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DoT approves Idea Cellular’s proposal to increase FDI limit to 100 per cent

June 05, 2018

Idea Cellular has received the Department of Telecommunications’ (DoT) approval on its application to increase foreign direct investment (FDI) limit in the company to 100 per cent, from the current 67.5 per cent.

The approval is for total foreign investment up to 100 per cent in Idea Cellular, and total indirect FDI in its subsidiaries – Aditya Birla Telecom and Idea Cellular Infrastructure Services.

The FDI approval is a major milestone in the merger process of Vodafone India with Idea Cellular, and follows other statutory approvals already received from the Securities and Exchange Board of India, National Stock Exchange, Bombay Stock Exchange, Competition Commission of India and the National Company Law Tribunal (NCLT) Mumbai and NCLT Ahmedabad.

The merger of Vodafone India with Idea Cellular is in the final leg of regulatory approvals and is expected to be completed by June 2018, subject to the final approval from the DoT.

 
 

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