CCI approves merger of HDFC Bank, HDFC Ltd

  • IANS
  • Stock Market News
CCI approves merger of HDFC Bank, HDFC Ltd
Credit: © Reuters.

Mumbai, Aug 13 (IANS) The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank (NS: HDBK ) and HDFC (NS: HDFC ) Ltd.

"Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings," CCI said in a tweet on the microblogging platform Twitter (NYSE: TWTR ) on Friday.

Whenever a deals over certain limit has been struck in the marketplace then it needs an approval from the regulator to keep a tab on unfair business practices.

HDFC Ltd, the largest housing finance company of the country in April had decided to merge with HDFC Bank.

--IANS

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