INSUBCONTINENT EXCLUSIVE:
received approval from the Department of Telecom (DoT) to raise the Foreign Direct Investment (FDI) limit to 100 per cent
approval is for total foreign investment up to 100 per cent in Idea Cellular Ltd., and total indirect FDI in its relevant subsidiaries -
and Idea Cellular Infrastructure Services Ltd," the comopany said in a statement.: CEO Balesh Sharma To Lead Vodafone-Idea Merged Entity"The
FDI approval is a major milestone in the merger process of Vodafone India with Idea Cellular, and follows other statutory approvals already
pass a special resolution in an extraordinary general meeting to be held on June 26, wherein the company's name will be changed to Vodafone
complete in H1CY18, subject to the final approval from the DoT".Once the deal goes through, Vodafone will own 45.1 per cent stake in the
merged entity, while Idea Cellular will have a 26 per cent stake
