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CCI Clears Vega SAS Buy of 16.2% in Vodafone Group

The Competition Commission of India approved Vega SAS taking 16.2% of Vodafone Group, MIH Payments' stake in Navi and the Sapphire Foods merger into Devyani.

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CCI Clears Vega SAS Buy of 16.2% in Vodafone Group — GK24 title card

Why in News

On 31 October 2026 the Competition Commission of India cleared three combinations: Vega SAS buying 16.2% of Vodafone Group PLC, MIH Payments Holdings B.V. of the Prosus group picking up shareholding in Navi Limited, and the merger of Sapphire Foods India into Devyani International.

The Competition Commission of India (CCI) cleared three more combinations on 31 October 2026, spanning telecom, digital lending and the quick service restaurant trade.

A French buyer in Vodafone Group

The Commission approved the purchase of 16.2% of the issued share capital of Vodafone Group PLC by Vega SAS. The buyer is a holding company and is wholly owned by Maya SAS, a simplified joint-stock company set up under the laws of France. Its field is telecommunications, the internet, information technology and electronic communications networks, including running such networks. Vega SAS carries on no business in India itself; that is done by its relevant affiliates. Vodafone Group is a telecom company of Europe and Africa supplying fixed and mobile services. Most of its earnings come from core connectivity, and its basket also holds digital services, Internet of Things services and financial services. In India the group is present through Vodafone Idea Limited.

Prosus arm to pick up a stake in Navi

A second order allows MIH Payments Holdings B.V. to acquire shareholding in Navi Limited. The buyer is an indirect and wholly owned subsidiary of Prosus N.V. and does nothing beyond holding investments in companies that work in India. Navi Limited is the holding company of the Navi Group, which sells financial products through its subsidiaries on a single mobile app meant for customers.

Sapphire Foods to merge into Devyani

The third approval covers the merger of Sapphire Foods India Limited with and into Devyani International Limited, together with some related transactions. Both companies run KFC and Pizza Hut outlets in India as franchisees. Devyani is in addition the exclusive franchisee for Costa Coffee, New York Fries and Sanook Kitchen in the country and runs brands of its own as well.

What a student should take away

These orders show the range of the competition regulator's work in a single day: a minority stake in a foreign telecom parent, a payments and investment arm buying into an Indian lender, and two restaurant chains becoming one. Each needed the Commission's nod before it could be closed.

Important Facts

RegulatorCompetition Commission of India (CCI)
Stake in Vodafone Group PLC16.2% of issued share capital, to Vega SAS
Parent of Vega SASMaya SAS, a simplified joint-stock company of France
Vodafone's Indian presenceVodafone Idea Limited
Navi Limited buyerMIH Payments Holdings B.V., indirect wholly owned subsidiary of Prosus N.V.
Restaurant mergerSapphire Foods India Limited with and into Devyani International Limited
Brands run by DevyaniKFC, Pizza Hut, and as exclusive franchisee Costa Coffee, New York Fries and Sanook Kitchen
Date of approval31 October 2026

Exam Point of View

Note the figure 16.2% and the pair Vega SAS and Vodafone Group PLC, with Maya SAS of France as the parent of the buyer and Vodafone Idea Limited as the group's Indian presence. Remember that MIH Payments Holdings B.V. belongs to Prosus N.V. and is buying into Navi Limited, and that Sapphire Foods India merges into Devyani International, both franchisees of KFC and Pizza Hut, with Devyani the exclusive franchisee of Costa Coffee, New York Fries and Sanook Kitchen.

Practice Questions

Frequently Asked Questions

How much of Vodafone Group PLC is Vega SAS acquiring?

Vega SAS is acquiring 16.2% of the issued share capital of Vodafone Group PLC, with the clearance of the Competition Commission of India. Vega SAS is wholly owned by Maya SAS, a simplified joint-stock company of France.

Which group does MIH Payments Holdings B.V. belong to?

It is an indirect wholly owned subsidiary of Prosus N.V. It has been allowed to acquire shareholding in Navi Limited, the holding company of the Navi Group of financial services.

Which brands do Sapphire Foods and Devyani International run?

Both operate KFC and Pizza Hut franchise outlets in India. Devyani International is also the exclusive franchisee of Costa Coffee, New York Fries and Sanook Kitchen and owns homegrown brands.

Sources