Diabytes
SingTel to be first to own 100% stake in Indian telecom firm
The SingTel's Global (India) Pvt Ltd's proposal has been cleared, said Department of Economic Affairs Secretary Arvind Mayaram, who heads the FIPB.
Trending Photos
8- 9
- 7
- 7
)
New Delhi: Taking benefit of new FDI norms, SingTel will become the first foreign company to entirely own an Indian telecom services firm with FIPB giving nod to buyout its local partners in SingTel India - which provides Internet bandwidth services.
The SingTel's Global (India) Pvt Ltd's proposal has been cleared, said Department of Economic Affairs Secretary Arvind Mayaram, who heads the FIPB.
As per the proposal, the Singapore-based company is now entitled to buy stakes from its Indian partners including Bharti Enterprise which holds about 9.9 percent stake in SingTel's Global (India) Pvt Ltd.
SingTel has applied to invest Rs 2.98 crore under the proposal.
No comments have been received from SingTel and Bharti Enterprise on the development.
The SingTel's Global (India) Pvt Ltd's proposal has been cleared, said Department of Economic Affairs Secretary Arvind Mayaram, who heads the FIPB.
As per the proposal, the Singapore-based company is now entitled to buy stakes from its Indian partners including Bharti Enterprise which holds about 9.9 percent stake in SingTel's Global (India) Pvt Ltd.
SingTel has applied to invest Rs 2.98 crore under the proposal.
No comments have been received from SingTel and Bharti Enterprise on the development.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.
Advertisement
Live Tv
Advertisement
 "DNA: Supreme Court Halts Bulldozer Justice, Warns Officials")
 "DNA: RSS Mobilizes in Maharashtra’s Muslim Areas for BJP Support")
 "DNA: Inside Story of Muslim Politics in Maharashtra Election")
 "DNA: UPPSC Exam Controversy: Why Are UP Students Protesting?")
 "DNA: How Are Indian Muslims Responding to Mohammad Adeeb 'Pak Remark'?")
 "DNA: Chaos Over Article 370 in J&K Assembly’s Third Day")
 "DNA: Why Does AMU Seek Minority Status?")
 "DNA: All India Ulama Board’s Conditional Support to Mahavikas Aghadi")
 "DNA: Scuffle Over Article 370 in Jammu & Kashmir Assembly: Why Was Abdullah Smiling?")
 "DNA: Secret Strategy Revealed Ahead of Maharashtra Elections?")
