CCI Approves Accenture's Stake Acquisition In Vodafone's Arm

The Competition Commission of India approved Accenture's acquisition of a stake in Vodafone Shared Operations Ltd, on Wednesday.

"CCI approves the proposed combination involving the acquisition of shares of Vodafone Shared Operations by Accenture," the regulator said in a post on X, formerly known as Twitter.

Vodafone Shared Operations, a division of Vodafone Group Plc, provides shared services to the Vodafone Group and its partner telecommunications companies.

Vodafone Group Plc announced in November a strategic partnership with Accenture to commercialise Vodafone’s Shared Operations.

Further, the Dublin-based IT and consulting firm also said that it will invest 150 million euros for a minority stake in the partnership.

The new unit will utilise Accenture’s world-class technology and transformation services, such as its digital solutions and platforms and deep AI expertise.

In another post on X, the competition watchdog also approved the acquisition of a stake in MTC Business Pvt. by Mitsui & Co. (Asia Pacific) Pte Ltd.

Mitsui & Co. (Asia Pacific) operates in various business areas, including iron and steel products, mineral and metal resources, etc. It is a wholly owned subsidiary of Tokyo-based Mitsui & Co. Ltd.

"Commission approves acquisition of certain equity share capital of MTC Business Private Limited by Mitsui & Co (Asia Pacific) Pte Ltd," CCI said.

MTC Business is an Indian company engaged in the trading of ferrous and non-ferrous metal scrap, ferroalloys and base and minor metals in India and worldwide.

The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

(With Inputs From PTI)