The Competition Commission of India on Friday approved the proposed acquisition of a 16.2% stake in Vodafone Group PLC by Vega SAS.
Vega SAS is a holding company and a wholly owned subsidiary of Maya SAS, which is incorporated under French law. Vega SAS is engaged in activities relating to telecommunications, internet, information technology, telematics and communications, including the development, operation and management of communication networks and related services.
Vega SAS does not have any direct business presence or operations in India. Its business activities in the country are carried out through its relevant affiliates.
Vodafone Group PLC is a telecommunications company operating across Europe and Africa, providing mobile services. Its business portfolio primarily comprises connectivity products and services, along with digital, Internet of Things and financial services.
In India, Vodafone Group operates through Vodafone Idea Limited.
The Commission stated that a detailed order would be issued separately.