 "Vodafone Idea")
Fair trade regulator Competition Commission of India (CCI) on Wednesday cleared Atlas 2022 Holdings' additional stake acquisition in Vodafone Group Plc.
Atlas 2022 Holdings is a wholly-owned subsidiary of Abu Dhabi-based Emirates Telecommunications Group Company PJSC (formerly known as Etisalat Group).
The combination relates to Atlas 2022 Holdings Ltd's proposal to increase its voting rights/shareholding in Vodafone from 14.6 per cent to less than 25 per cent in Vodafone Group Plc.
"CCI approves the proposed acquisition by Atlas 2022 Holdings Limited to increase its shareholding in Vodafone from 14.6% to less than 25% in Vodafone Group Plc," according to a post by the competition watchdog on social media platform X on Wednesday.
Vodafone is a British telecommunications operator which provides mobile and fixed-line connectivity services, to customers predominantly across Europe, Africa and Asia.
In another deal, CCI also approved the stake acquisition by Abu Dhabi Ports Company in Delanord Investments.
More From This Section
Delanord Investments is a provider of short-sea vessel operation services in the Middle East, Indian subcontinent, and Southeast Asia.
"CCI approves acquisition of shareholding in Delanord Investments by Abu Dhabi Ports Company," the anti-trust said in a post on X.
Abu Dhabi Ports Company is a trade, logistics and transport enabler. engaged in the operation of ports and terminals, provision of short-sea vessel operation services, and provision of freight forwarding services.
Deals beyond a certain threshold need approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
