Fair trade regulator the Competition Commission of India has approved Reliance MediaWork’s sale of Big Cinemas to Carnival Films.
In December, Carnival Films backed by Kochi-based investor Shrikant Bhasi, signed a deal to acquire a 100% stake in multiplex operator Big Cinemas, an arm of the Anil Ambani-owned Reliance MediaWorks, for about Rs 700 crore. Big Cinemas owned 252 screens.
The CCI said the deal does not raise anti-competitive concerns.
Full Content: The Economic Times
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