New Delhi: Fair trade regulator CCI has given its nod to the intra-group transfer of shares of Indus Towers to Vodafone India's shareholders from the telecom operator.
According to the Competition Commission of India (CCI), the 12 equity shareholders of Vodafone India had jointly submitted a notice to the regulator for seeking approval.
The proposed combination is an intra-group transfer of 42 percent shares of Indus Towers from the telecom operator to the Vodafone India shareholders, in proportion to their shareholding in the firm, as per the notice.
Shareholders of Vodafone India are Al-Amin Investments, Asian Telecommunication Investments (Mauritius), CCII (Mauritius) Inc, Euro Pacific Securities, Vodafone Telecommunications (India), Mobilvest and Prime Metals.
The others are Trans Crystal, Omega Telecom Holdings, Telecom Investments India, Jaykay Finholding (India) and Usha Martin Telematics.