Fair trade regulator CCI has given its nod to the intra-group transfer of shares of Indus Towers to Vodafone India’s shareholders from the telecom operator. According to the Competition Commission of India (CCI), the 12 equity shareholders of Vodafone India had jointly submitted a notice to the regulator for seeking approval. Also Read - Jio maintains lead in 4G download speed, Vi in upload in May: TRAI
The proposed combination is an intra-group transfer of 42 percent shares of Indus Towers from the telecom operator to the Vodafone India shareholders, in proportion to their shareholding in the firm, as per the notice. Also Read - Fake WhatsApp message claims free internet for three months, don't fall for it
Shareholders of Vodafone India are Al-Amin Investments, Asian Telecommunication Investments (Mauritius), CCII (Mauritius) Inc, Euro Pacific Securities, Vodafone Telecommunications (India), Mobilvest and Prime Metals. Also Read - Vi (Vodafone Idea) is now focusing on growing broadband business with You Broadband
The others are Trans Crystal, Omega Telecom Holdings, Telecom Investments India, Jaykay Finholding (India) and Usha Martin Telematics.