Union Bank Gets CCI Nod for 49% Stake Buy in Asset Management Joint Venture

New Delhi: The Competition Commission has approved the state-run Union Bank of India's proposed acquisition of 49 per cent stake in Union KBC Asset Management Company (AMC). The fair trade regulator, which keeps a tab on unfair business practices across sectors, has approved the acquisition as the deal may not have an adverse impact on competition in the country. Following the transaction, KBC Asset Management of Belgium has exited...