NEW DELHI: Idea Cellular<\/a> Ltd's proposal to allow up to 100 per cent foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion<\/a> (DIPP), an official said. 新德里消息:知道细胞有限公司的提议,允许100%的外国直接投资的公司正在考虑之中产业政策和晋升(DIPP),一个官员说。
The proposal assumes significance against the backdrop of pending merger of Idea Cellular<\/a> Ltd and Vodafone India<\/a> to form the country's largest telecom operator.
The present foreign direct investment policy allows an overseas firm to buy up to 49 per cent stake in an Indian telecommunication company under automatic approval route. But government's approval is required for stake above 49 per cent.
Idea and Vodafone in 2017 announced that they would combine their operations to create the country's largest telecom operator worth over USD 23 billion, with a 35 per cent market share<\/a>.
Foreign share holding in Idea as on March 31, 2018, stood at around 34 per cent, including 7.49 per cent in promoter group and the rest as public shareholders. While British telecom multinational Vodafone Group plc is a majority shareholder in Vodafone India<\/a>.
Foreign shareholding in the combined Idea-Vodafone entity, thus, would breach the automatic approval limit of 49 per cent.
According to the Idea-Vodafone merger announcement in March, Vodafone would own 45.1 per cent of the combined company after transferring a 4.9 per cent stake to Aditya Birla Group for Rs 3,900 crore in cash, concurrent with completion of the merger.
\"We have received the proposal from the Department of Telecommunications. As the department has added a condition in the proposal, the matter has been referred to the DIPP. It is under consideration of the department,\" a government official said.
The telecommunications department is awaiting the views of the DIPP on raising foreign direct investment limit in Idea Cellular Ltd to 100 per cent, before approving its merger with Vodafone India.
\"Only FDI clearance for Idea is pending before the proposed merger with Vodafone (India) can go through,\" another government official said.
After the abolition of foreign investment promotion board, respective departments and ministries of 11 sectors, including telecommunications and print media, are competent authorities for approval of FDI proposals unless they want to add some condition or reject the proposal.
In such circumstances, they have to seek the views to the DIPP.
The merged Idea-Vodafone entity will have highest subscriber base of 41 crore accounting for over 35 percent market share<\/a> and second largest spectrum holding of 1,850 megahertz in the country.
The merger is expected replace Bharti Airtel<\/a> from its numero uno position in terms of number of subscriber base, as per reports of the Telecom Regulatory Authority of India.
The debt of resultant entity is expected to be around 1.1 lakh crore as per debt situation of Idea and Vodafone India at the end of September 2017.
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建议假定意义的背景下等待合并知道细胞有限公司和沃达丰印度形成了中国最大的电信运营商。
目前的外国直接投资政策允许海外公司购买印度电信公司49%的股权控制自动批准的路线。但需要政府批准的股权超过49%。
外国股票持有的想法3月31日,2018年,站在34%左右,其中7.49%在启动子组和其他公众股东。而英国电信跨国沃达丰集团的多数股东沃达丰印度。
外资持股Idea-Vodafone实体相结合,因此,将突破49%的自动批准限制。
根据Idea-Vodafone合并公告3月,沃达丰将拥有45.1%的合并后的公司转让4.9%的股权后Aditya Birla集团以3900卢比现金,并发完成合并。
“我们已经收到电信部的建议。随着部门的提案中添加了一个条件,被称为DIPP。它正在考虑之中的,”一名政府官员说。
电信部门正在等待DIPP的意见对提高外国直接投资限制在想法细胞有限公司100%,之前批准合并与沃达丰印度。
“只有FDI间隙之前的想法是等待与沃达丰(印度)拟议的合并可以通过,”另一个政府官员说。
外国投资促进委员会废除后,各自的部门和部门的11个部门,包括电信和印刷媒体、主管部门批准的外国直接投资建议,除非他们想添加一些条件或拒绝这个提议。
在这种情况下,他们必须寻求DIPP视图。
Idea-Vodafone合并后的实体将有最高的41个卢比的用户数占35%以上市场份额和第二大光谱持有的1850兆赫。
合并预计将取代Bharti Airtel从它的第一流的位置的用户基础,根据印度电信监管机构的报告。
结果实体的债务预计将大约1.1十万的卢比的按债务状况的想法和沃达丰印度在2017年9月。
NEW DELHI: Idea Cellular<\/a> Ltd's proposal to allow up to 100 per cent foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion<\/a> (DIPP), an official said.
The proposal assumes significance against the backdrop of pending merger of Idea Cellular<\/a> Ltd and Vodafone India<\/a> to form the country's largest telecom operator.
The present foreign direct investment policy allows an overseas firm to buy up to 49 per cent stake in an Indian telecommunication company under automatic approval route. But government's approval is required for stake above 49 per cent.
Idea and Vodafone in 2017 announced that they would combine their operations to create the country's largest telecom operator worth over USD 23 billion, with a 35 per cent market share<\/a>.
Foreign share holding in Idea as on March 31, 2018, stood at around 34 per cent, including 7.49 per cent in promoter group and the rest as public shareholders. While British telecom multinational Vodafone Group plc is a majority shareholder in Vodafone India<\/a>.
Foreign shareholding in the combined Idea-Vodafone entity, thus, would breach the automatic approval limit of 49 per cent.
According to the Idea-Vodafone merger announcement in March, Vodafone would own 45.1 per cent of the combined company after transferring a 4.9 per cent stake to Aditya Birla Group for Rs 3,900 crore in cash, concurrent with completion of the merger.
\"We have received the proposal from the Department of Telecommunications. As the department has added a condition in the proposal, the matter has been referred to the DIPP. It is under consideration of the department,\" a government official said.
The telecommunications department is awaiting the views of the DIPP on raising foreign direct investment limit in Idea Cellular Ltd to 100 per cent, before approving its merger with Vodafone India.
\"Only FDI clearance for Idea is pending before the proposed merger with Vodafone (India) can go through,\" another government official said.
After the abolition of foreign investment promotion board, respective departments and ministries of 11 sectors, including telecommunications and print media, are competent authorities for approval of FDI proposals unless they want to add some condition or reject the proposal.
In such circumstances, they have to seek the views to the DIPP.
The merged Idea-Vodafone entity will have highest subscriber base of 41 crore accounting for over 35 percent market share<\/a> and second largest spectrum holding of 1,850 megahertz in the country.
The merger is expected replace Bharti Airtel<\/a> from its numero uno position in terms of number of subscriber base, as per reports of the Telecom Regulatory Authority of India.
The debt of resultant entity is expected to be around 1.1 lakh crore as per debt situation of Idea and Vodafone India at the end of September 2017.
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