Business

Ericsson's Telcordia seeks govt nod for full control of India unit

August 23, 2014 10:10 PM

US-based Telcordia Technologies, now part of Ericsson, has sought approval from the Foreign Investment Promotion Board (FIPB) to increase stake in its Indian entity to 100 per cent from 74 per cent, according to sources.

Telcordia had entered India in March 2009 through a joint venture, MNP Interconnection Telecom Solutions, to work as one of the two clearing houses for managing mobile number portability (MNP). Telcordia has 74 per cent stake in the company and Deepak Talwar Consultants 26 per cent. Telcordia declined to comment on queries.

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