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.
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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.