French billionaire Xavier Niel gets CCI nod to acquire 16.2% Vodafone stake

The Competition Commission of India (CCI) has approved French billionaire Xavier Niel's proposal to acquire a 16.2% stake in Vodafone Group. Vega, a family investment vehicle of Niel, will buy the stake for about £4.4 billion (around ₹56,000 crore), becoming Vodafone's largest shareholder. Niel is the founder of French telecom company Iliad.