CCI approves Indus Towers' share transfer to Voda shareholders

Published On: 05, Dec 2017 | Source: business-standard.com

Fair trade regulator CCI has given its nod to the intra-group transfer of of to Vodafone India's shareholders from the telecom operator.

According to the Competition Commission of (CCI), the 12 equity shareholders of Vodafone had jointly submitted a notice to the regulator for seeking approval.

The proposed combination is an intra-group transfer of 42 per cent of from the telecom operator to the Vodafone shareholders, in proportion to their shareholding in the firm, as per the notice.

Shareholders of Vodafone are Al-Amin Investments, Asian Telecommunication (Mauritius), CCII (Mauritius) Inc, Euro Pacific Securities, Vodafone Telecommunications (India), Mobilvest and Prime Metals.

The others are Trans Crystal, Omega Telecom Holdings, Telecom India, Jaykay Finholding (India) and Usha Martin Telematics.