Mumbai: Idea Cellular on Monday said that the company has received
approval from the Department of Telecom (DoT) to raise the Foreign Direct
Investment (FDI) limit to 100 per cent. According to the telecom major, the
approval allows it to increase the FDI limit 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 Ltd., and total indirect FDI in its relevant
subsidiaries - Aditya Birla Telecom Ltd. and Idea Cellular Infrastructure
Services Ltd," the comopany said in a statement.
"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 SEBI, NSE, BSE, CCI and NCLT
Mumbai and NCLT Ahmedabad."
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