CCI clears Xavier Niel's €5.1 billion Vodafone stake buy

The Competition Commission of India has approved French billionaire Xavier Niel's plan to buy a 16.2% stake in Vodafone Group for about €5.1 billion. His family investment vehicle, Vega SAS, is acquiring the shares from Emirates Telecommunications Group and will become Vodafone's largest shareholder. Indian approval was needed because Vodafone operates locally through its Vodafone Idea joint venture.