New Delhi (14.06.2022): The Competition Commission of India (CCI) has approved Air India's proposed acquisition of the entire shareholding of AirAsia India. Approval of the CCI is necessary for any acquisition beyond a certain threshold. The pre-requisite is considered necessary to foster competition while keeping a check on anti-competitive practices in the marketplace. Tata Sons acquired Air India after placing a bid of ₹18,000 crores for the airline in October 2021. AirAsia India is a joint venture between Tata Sons and Air Asia Investment Ltd (AAIL), with the former presently holding 83.67 per cent and AAIL owning a 16.33 per cent stake.
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CCI approves acquisition of AirAsia India by TATA
By IndianMandarins - 2022-06-14 11:25:00
New Delhi (14.06.2022): The Competition Commission of India (CCI) has approved Air India's proposed acquisition of the entire shareholding of AirAsia India. Approval of the CCI is necessary for any acquisition beyond a certain threshold. The pre-requisite is considered necessary to foster competition while keeping a check on anti-competitive practices in the marketplace.
Tata Sons acquired Air India after placing a bid of ₹18,000 crores for the airline in October 2021. AirAsia India is a joint venture between Tata Sons and Air Asia Investment Ltd (AAIL), with the former presently holding 83.67 per cent and AAIL owning a 16.33 per cent stake.
