NEW DELHI The Competition Commission of India (CCI) has approved Etihad's $325 million deal to buy a 24 percent stake in Jet Airways(JET.NS), the regulator said on its website on Tuesday.
Jet said last month it expected to complete the transaction this quarter. It already has the cabinet's approval.
"...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same...," the CCI said on its website.
(Reporting by Devidutta Tripathy; Editing by Louise Ireland)
Trending On Reuters
State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour. Read