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Foreign share holders in an Indian telecom company to offer equity to the Indian promoters before selling shares to other entities

April 15, 2006
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The government plans to make it mandatory for foreign share holders in an Indian telecom company to offer equity to the Indian promoters before selling shares to any other entity. Indian promoters will be required to match the price that the foreign shareholders have been offered by others. According to DoT, while this will have no impact on the economic value of the foreign shareholder, it will ensure that Indian promoters have an opportunity to play a continued role in the company in case the foreign shareholder exits. Presently, foreign shareholders can sell their shares in their holding company without informing the Indian promoters.

 
 
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