The Competition Commission of India (CCI) has approved French billionaire Xavier Niel’s proposal to acquire a 16.2% stake in Vodafone Group Plc, paving the way for his investment vehicle to become the UK-based telecom operator’s largest shareholder.
The proposed acquisition will be made through Vega SAS, a wholly owned subsidiary of Maya SAS, a French simplified joint-stock company. Niel, the founder of telecom company Iliad, is pursuing the investment through the family-controlled vehicle.
