The Telecom Commission has approved the Department of Telecommunication's (DoT) proposal to impose a three-year lock-in on the sale of promoters' equity in the new telecom licensees.

The commission has also barred such operators from issuing special dividends in the first three years. The decision will, however, not impact the Unitech Wireless-Telenor and Swan-Etisalat deals as the lock-in will apply only in the case of sale of promoter equity and not when investment is brought into the company by a strategic investor by subscribing to fresh equity.