The government has approved multi-system operator (MSO) Hathway Cable & Datacom’s proposal to increase its foreign direct investment (FDI) limit to 74 per cent, from current 49 per cent. Hathway had applied to the Ministry of Finance for increasing its FDI cap after foreign shareholding in the company had reached the prescribed threshold and the Reserve Bank of India (RBI) barred foreign investors from purchasing further shares in the company. The Foreign Investment Promotion Board (FIPB) has cleared Hathway’s proposal. Earlier in January, the Hathway board had approved the proposal, following which its shareholders also gave their nod via postal ballot.
Read more at: http://www.televisionpost.com/cable/govt-approves-hathways-proposal-to-increase-fdi-limit-to-74/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/cable/govt-approves-hathways-proposal-to-increase-fdi-limit-to-74/ | TelevisionPost.com
