Government approves Vodafone’s proposal to acquire up to 49 per cent stake in Bharti Enterprises

The government has approved the Vodafone Group’s proposal to acquire up to 49 per cent stake in Bharti Enterprises, if any of Bharti’s foreign partners are ready to sell their shares. The Vodafone investment is the first case to be cleared since the government raised the foreign investment limit for telecom services from 49 per cent to 74 per cent.