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India: Banking merger approved for Kotak, Barclays

By  |  January 25, 2013
India: Banking merger approved for Kotak, Barclays

India’s Competition Commission has approved of Kotak Mahindra Bank’s proposed acquisition of Barclays Bank’s unsecured loan business in the nation. The CCI announced it did not suspect significant competition concerns through the merger. According to reports, the deal involves Kotak acquiring Barclays’ business installment loans portfolio. The deal was first proposed last December and first submitted for approval earlier this month.

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