The Competition Commission of India has given regulatory approval for the proposed joint venture between Japan’s Mitsubishi Corp and Tata Consultancy Services, according to reports.
The venture will be based in Japan.
Tata Consultancy first struck an agreement last April to merge two of its Japanese units with a unit of Mitsubishi. The combined entity will be an IT company worth an estimated $600 million.
The CCI said that the merger will not likely harm competition within India.
Tata Consultancy Services Asia Pacific will own a 51 percent stake in the venture. The company, based in Singapore, is a subsidiary of Tata consultancy Services. Tata Consultancy Services Japan is a subsidiary of the Singapore unit.
While Mitsubishi holds a presence within India, it does not have a share of the nation’s IT market.
Full content: Zee News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 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