FM approves Vodafone-Hutch deal

Finance Minister P Chidambaram has given his assent to the Vodafone application to buy a 52% stake from Hutchison Whampoa in Hutchison-Essar.

Last week, Foreign Investment Promotion Board (FIPB) cleared the proposal.

With the latest move, Hutch-Essar will be renamed Vodafone Essar.