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Vodafone Essar seeks FIPB nod for investment in tower co
Published on Thu, May 15 at 08:40 , Updated at Thu, May 15 at 08:54
Source : Business Line
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New Delhi, May 14 Vodafone Essar Ltd has sought Foreign Investment Promotion Board (FIPB’s) approval for investment in Vodafone Essar Infrastructure Pvt Ltd (VEIPL), its proposed wholly owned subsidiary to provide tower infrastructure services in telecom sector.
In addition, there is a total indirect foreign investment of 25.09 per cent – Essar Telecom Investments Ltd (15.85 per cent), Omega Telecom Holdings Pvt Ltd 1.96 per cent, Telecom Investments India Ltd and its subsidiaries (7.28 per cent). Thus, the total direct and indirect foreign investment in VEL adds up to 73.62 per cent. contd on page 2... |
At present, within an overall direct foreign holding in Vodafone Essar Ltd (VEL), Essar (Mauritius investors) holds 6.19 per cent, while the holding of Vodafone International Holdings BV (through Mauritius investors) stands at 42.34 per cent. Archive 1 | 2 | | Next page » | |
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