DoT awaits FDI clearance for Idea to approve merger with Vodafone
"Only FDI clearance for Idea is pending before merger of Vodafone (India) with it. FDI limit needs to be raised in FDI for clearing both the deals of Idea -- sale of tower to ATC and Vodafone merger," a government official told PTI. Idea Cellular has sought to raise FDI limit in the company to 100 per cent
The merged Idea-Vodafone entity will have highest subscriber base of 41 crore accounting for over 35 per cent market share and second largest spectrum holding of 1,850 megahertz in the country. Image source: Reuters