FIPB gives nod to Hutch-Vodafone deal

NEW DELHI: The Foreign Investment Promotion Board (FIPB) today gave a clean chit to the Hutch-Vodafone deal.

Following the clearance of shareholding pattern by the Law Ministry, the board came up with the final decision today. The FIPB received the Law Ministry’s on Monday but deferred the decision saying it required more time to go through the report.

Based on the meetings with the shareholders and the reports from the Law Ministry and the Ministry of Communications, FIPB gave the green signal on finalizing the deal.

Vodafone chief, Asim Ghosh had earlier written to the union minister of Communications Dayanidhi Maran on the delay in the decision by FIPB.

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