Indian government holding off on Vodafone decision

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Citing a lack of interior ministry security approvals, India's foreign investment regulator says it's deferring a ruling on Vodafone's (VOD +1.2%) request to assume full ownership of its local subsidiary.

Vodafone directly or indirectly owns 84.5% of its Indian unit, which is the country's #2 mobile carrier. It's offering $1.6B to buy out minority holders, and has promised to invest $2B in the business.