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.

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.

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...