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Idea receives FDI clearance from DoT

5 Jun 2018

Idea Cellular has been granted approval by the Department of Telecommunications (DoT) to increase foreign direct investment (FDI) to 100% from its current level of 67.5%. The approval applies to total FDI in Idea Cellular and total indirect FDI in its subsidiaries Aditya Birla Telecom and Idea Cellular Infrastructure Services Limited (ICISL). In a statement, the operator said that the approval represents a ‘major milestone’ in the merger process of Vodafone India with Idea Cellular, adding that the tie-up was ‘in the final leg of regulatory approvals’ and is due to be completed with the first half of 2018 – subject to final approval from the DoT.

The two operators confirmed earlier this week that the combined entity would use the name ‘Vodafone Idea’ to continue leveraging the brand identities of the duo.

India, Vi (Vodafone Idea Limited, VIL)

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