South Korean automakers Hyundai and Kia Motors are getting their hands on India’s mobility sector by exploring to acquire stakes in Bengaluru-based Ola Electric Mobility and its parent company ANI Technologies, which owns cab-hailing unicorn Ola.
Hyundai and Kia Motors have approached India’s antitrust body, Competition Commission of India (CCI), to get its approval for the deal. All major investments and mergers between two big companies in India need CCI’s approval.
“It is submitted that the Parties believe that the Proposed Transaction does not give rise to any competition concerns regardless of the relevant market defined for the purpose of this filing,” the filing by the automakers stated.
Full Content: Tech In Asia
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI