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FIPB clears Tesco, Vodafone investment proposals

Last Updated: Monday, December 30, 2013, 18:28

UK-based Tesco Plc became the first global retailer to get approval to enter country's multi-brand retail sector from the Foreign Investment Promotion Board that also Monday cleared Vodafone's Rs 10,141 crore plan to buy out minority shareholders in its India arm.

FIPB clears Tesco's $110 mn multi-brand retail proposal

Last Updated: Monday, December 30, 2013, 18:00

The Foreign Investment Promotion Board Monday approved UK-based Tesco Plc's proposal to enter the Indian multi-brand retail segment in joint venture with Tata Group company with an initial investment of USD 110 million (about Rs 680 crore).