The Hindu Business Line : Hutch-Essar arms get DoT nod for FDI

The Department of Telecom has given its approval to Hutchison Essar Ltd's six subsidiaries offering cellular services in the country for direct or indirect foreign direct investment of 68 per cent.

The six subsidiaries include Fascel Ltd, Aircel Digilink, Hutchison Essar Cellular Ltd, Hutchison Telecom East Ltd, Hutchison Essar Mobile Services and Hutchison Essar South Ltd.

DoT officials said that as the parent company has been given the approval, the proposals of the six subsidiaries have also been given the green signal. The equity holding of the subsidiaries are a mirror of the parent company which means foreign holding in these six companies are also at 68 per cent.

Earlier, the Foreign Investment Promotion Board had asked Hutchison Essar to submit separate proposals for each of the subsidiaries.

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