CCEA To Take Up Vodafone proosal to up FDI to 100%

CGP India Investments, an indirect Mauritian subsidiary of Vodafone International Holdings BV, had approached the FIPB with the proposal

A Cabinet panel is likely to consider a Rs 10,141-crore proposal of Vodafone to buy out minority stake in its Indian arm on Thursday.

 

The proposal was referred to the Cabinet Committee on Economic Affairs (CCEA) by the Foreign Investment Promotion Board (FIPB). Proposals entailing foreign direct investment of over Rs 1,200 crore require approval from CCEA.

 

CGP India Investments, an indirect Mauritian subsidiary of Vodafone International Holdings BV, had approached the FIPB to increase foreign equity in Vodafone India Ltd from 64.38% to 100%.