Millennium Post
Business

No FIPB decision on Vodafone plea for full stake in Indian arm

The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.

‘Decision on Vodafone deferred pending Ministry of Home Affairs comments,’ sources in the Finance Ministry said after a FIPB meeting, which is headed by Economic Affairs Secretary Arvind Mayaram. The UK-based telecom major holds a 64.38 per cent stake in the Indian unit.
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