CCI approves Atlas' increased stake in Vodafone Group
Go Back
3 months ago 01:45:50pm Television

CCI approves Atlas’ increased stake in Vodafone Group

New Delhi, 30-November – 2023, By IBW Team

Vodafone Group

The Competition Commission of India (CCI) on Wednesday said it has cleared a proposal by Atlas 2022 Holdings to raise its shareholding in Vodafone Group Plc to less than 25 percent from 14.6 percent through a series of on-market and off-market transactions.

Atlas is a wholly-owned arm of Emirates Telecommunications Group company PJSC (e&). It was incorporated in February 2022 in the Cayman Islands for acquiring and holding e&’s current 14.6 percent interest in Vodafone, the regulator said in a statement. A detailed order will be released soon, it added, Economic Times reported.

e&, previously known as Etisalat Group, is a telecom operator headquartered in Abu Dhabi. It & provides services in countries across the Middle East Asia and Africa. “Neither Atlas nor e& has any physical presence in India (e& does not have any Indian subsidiaries). e& does not hold a license to operate as a mobile network operator in India,” the CCI said.

Vodafone, a British telecom operator headquartered in Newbury, offers mobile and fixed-line connectivity services, as well as connectivity products and services to customers predominantly across Europe, Africa, and Asia. In India, Vodafone is active in the telecommunications sector through Vodafone Idea and its step-down subsidiaries.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos