CCI Approves Xavier Niel's Stake Acquisition in Vodafone Group

The Competition Commission of India (CCI) has given its approval for French billionaire Xavier Niel's proposal to acquire over 16% stake in the global telecommunications giant, Vodafone Group. Vega SAS, Niel's entity, has no Indian business operations. Vodafone Group offers fixed and mobile services in India through its subsidiary, Vodafone Idea Ltd.