Regulatory Approvals

Jio Platforms Ltd has partnered with SpaceX to bring Starlink's internet services to India, contingent on regulatory approvals. The collaboration will allow Jio to offer Starlink solutions via its retail outlets and online platforms, with plans to provide equipment and customer service for installation. This partnership leverages Jio’s position as the largest mobile operator globally by data traffic and SpaceX's leadership in low Earth orbit (LEO) satellite operations. Together, they aim to deliver reliable broadband services to even the most remote and rural areas of India, enhancing Jio's existing broadband services like JioFiber and JioAirFiber. The partnership also explores other ways to strengthen India’s digital ecosystem. However, regulatory approvals from the Indian government and agencies such as IN-SPACe and DoT are still pending. The Indian space economy is expected to grow to $44 billion by 2033, contributing significantly to global market share.

Cairn, Vedanta get all approvals for merger except RBI nod

Cairn India and Vedanta Ltd have received all regulatory approvals for their merger, except the Reserve Bank of India's nod for issue of preference shares, the two companies said today.

Johnson to buy 25.74% stake in Hitachi via open offer

Johnson Controls said it would acquire little over 70,00,990 shares at an offer price of Rs 821.38 per share amounting to Rs 575.04 crore

Etihad says working towards Jet deal deadline

Political concerns and scrutiny by market regulators have delayed the deal and Etihad risks missing a "long-stop" date of July 31, before which regulatory approvals had to be secured. The deadline could be extended by the airlines but Etihad may also look to renegotiate terms of the deal, an industry expert said

Gulf Oil acquires Houghton International for over USD 1 bn

Hinduja Group firm Gulf Oil said it has completed its acquisition of US-based Houghton International for USD 1.045 billion (about over Rs 5,747 crore) after conclusion of necessary regulatory approvals.