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DoT awaiting FDI clearance for Idea before approving its merger with Vodafone

April 16, 2018

The Department of Telecommunications (DoT) is waiting for Department of Industrial Policy and Promotion (DIPP) to give clearance for raising the foreign direct investment (FDI) limit in Idea Cellular to 100 per cent before it gives its final approval to the merger of Vodafone India and Idea Cellular.

The DoT had approached the DIPP for its remarks around two weeks back and waiting to hear from it. FDI limit needs to be raised to clear both the deals of Idea - sale of towers to the American Tower Corporation (ATC) and the merger with Vodafone India.

In addition, both the companies will be asked to clear their dues before the merger. According to standard operating procedure for FDI proposals, all concerned ministries concerned are required to submit comments within four weeks of the proposal. In the absence of comments, it is presumed that no comments had to be offered.

However, FDI clearance in the telecom sector also requires approval from the Ministry of Home Affairs which should be granted within six weeks. In case it is unable to provide its comment within the stipulated time, it has to indicate the time frame within which it will provide comments.

 
 

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