The 100% of the FDI in Idea has been authorized by the Telecommunications Department, making way for the merger with Vodafone.

By the Department of Telecommunications (Dot) has approved 100% of direct investment (FDI) in Idea CellularNSE 4.83%, making it easier for the merger of the operator with Vodafone Indea, which would create the telecommunications company No. 1 of India, both by customers, and by market share and income, thus replacing Bharti Airtel.

The approval encompasses total foreign investment, up to 100% at Idea Cellular Ltd, ahead of the current level of 67.5%, and the total indirect IED at its subsidiaries – Aditya Birla Telecom Ltd. and Idea Cellular Infraestructure Services Ltd, the airline which is owned by KM Birla, as reported in a statement on Monday.

“The FDI approval is a major milestone in the merger process of Vodafone India with Idea Cellular, and follows other statutory approvals already received from the SEBI, NSE, BSE, CCI and NCLT Mumbai and NCLT Ahmedabad,” the No 3 carrier said.

June 05, 2018
Read more here: https://economictimes.indiatimes.com/industry/telecom/telecom-policy/department-of-telecommunications-clears-100-fdi-in-idea-paves-way-for-voda-merger/articleshow/64455387.cms