The approval, granted by the government on July 8, allows Vivo Mobile India to participate in the venture under Press Note 3 of 2020, which mandates prior government approval for investments from countries sharing a land border with India, including China.
Under the agreement, Dixon will hold a 51 percent stake in the joint venture, while Vivo Mobile India will own the remaining 49 percent.
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Danish Khan is the editor of Technology and Telecom. He was previously with the Economic Times and has tracked the sector for 15 years.
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