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FIPB Update: Telenor & Tikona Deferred, Pilot Ventures, Hubert Burda Media, GeoPost

The Indian government has approved eight proposals of Foreign Direct Investment (FDI) valued approximately at Rs 696.23 crore crore based on the recommendation of the Foreign Investment Promotion Board (FIPB). Among the Internet, Mobile and Media companies which has received approvals from the FIPB include: - Pilot Ventures Media: To induct 100% foreign equity to publish, market and distribute NME (New Musical Express) music magazine and the NME website in India.  It has received an approval for an investment of up to 0.01 crore for this initiative. - GeoPost S.A., France: To acquire shares of an Indian company which is in the business of commercial express and parcel delivery business segment. The company has received an approval for an investment of up to Rs 179.04 crore. Reports suggest that GeoPost is looking to pick up 40% stake in the courier company DTDC Couriers & Cargo, which owns an e-commerce logistics service DotZot. - GETIT Infoservices: Helion Ventures backed GETIT Infoservices has received approval to increase the foreign equity stake in the company to carry out its specialty publishing business. The company has received an approval for an investment of up to Rs 216 crore. More on this here. Among the Internet, Mobile and Media companies which were deferred by the government include: - Telenor Mobile Communication, Norway: To increase its stake from 49% to 74% in the telecom sector. Last October, Telenor group had tied up with Lakshdeep Investments & Finance to create a new joint venture Telewings Communications, after Unitech exited from the Uninor JV. - Tikona Digital Network: To increase the foreign equity participation in the telecom sector. The Indian government also informed…

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