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CCI approves Google's 7.7% stake acquisition in Jio Platforms

Deals beyond a certain threshold require approval from the CCI, which keeps a tab on unfair business practices across sectors

Topics
Google | Competition Commission of India | CCI

Press Trust of India  |  New Delhi 

Google
Internet major Google

The (CCI) on Wednesday said it has approved internet major Google's proposed purchase of 7.73 per cent stake in Jio Platforms.

In July, it was announced that has agreed to invest Rs 33,737 crore to buy a 7.7 per cent stake in the Reliance Industries' technology venture.

"Commission approves acquisition of 7.73% equity share capital of Jio Platforms by Google," the watchdog said in a tweet.

Deals beyond a certain threshold require approval from the CCI, which keeps a tab on unfair business practices across sectors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, November 11 2020. 18:49 IST
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