The Telecom commission approved a proposal yesterday, to allow a direct foreign investment up to 100% in telecom sector. So from a level of 74% it has been raised to 100% , this move has been welcomed by most of the orgainsations and the analysts also.But it has to be approved by the cabinet where it is expected to find opposition from the defence as well as the Home ministry which have raised security issues about allowing 100% FDI in such sensitive sectors.
So where this move can be favourable, In the case of RCom, where talks are on for a deal with South Africa’s MTN, a 74% stake sale can go ahead even as FIIs own 7.95% of RCom shares.Secondly its a good news in the case of Norwegian firm Telenor, 26% of its Indian operations Uninor is owned by Sudhir Valia’s Lakshdeep Investments and in the case of MTS, 24% is owned by Indian partner Shyam Telecom. There is till no complete clarity on whether all spectrums will have to be bought in an auction or some of them will be allocated.
A good move but not yet fully approved, whats your opinion about this..
Read what is going on the industries which can effect your sales..
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