You are here: Home » Companies » News
Business Standard

CCEA gives the green light to Rs 2,480 crore FDI into ATC Telecom

ATC Asia Pacific is buying about 12 per cent stock of ATC Telecom

FDI | CCEA | Prakash Javadekar

Press Trust of India  |  New Delhi 

CCEA gives the green light to Rs 2,480 crore FDI into ATC Telecom
Representational image

The government has approved a proposal involving foreign direct investment of Rs 2,480 crore by ATC Asia Pacific for purchasing about 12 per cent stock of ATC Telecom, Union minister said on Wednesday.

The investment underlines the growing confidence of investors in India's telecom sector and its infrastructure, he said.

"Today, allowed by ATC Asia Pacific Ltd to the tune of Rs 2,480 crore...for purchasing 12 per cent stock of ATC Telecom," Javadekar told reporters after the meeting of the Cabinet.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 25 2020. 15:42 IST