The Competition Commission of India has approved, Softbank’s acquisition of 20% stake in One97 communications, which owns digital wallet company Paytm.

The Competition Commission of India (CCI) in a tweet said that “It has approved the acquisition of 20% stake in One97 communications LTD by Japanese Tech giant Softbank Group Crop”.

 

According to the notice submitted by Softbank to the fair-trade regulator, the combination involves the acquisition of the equity shares of One97 Communication Ltd (OCL) by Softbank Group Capital.

Last May, Softbank announced that it has invested $1.4 billion (over Rs 9,097 crore) in Paytm, marking the largest investment by single investor in an Indian Startup.

 

Worth Sharing