The Competition Commission of India (CCI) has granted approval for two significant international acquisitions. On Wednesday, the regulator cleared Accenture’s acquisition of a stake in Vodafone Shared Operations Ltd (VSOL), a subsidiary of Vodafone Group Plc that provides shared services across the telecommunications giant’s network of partner companies.
The acquisition is part of a strategic partnership announced by Vodafone Group Plc in November of last year, wherein the Dublin-based IT consulting giant Accenture committed to a EUR 150 million investment for a minority stake in VSOL. The collaboration will look to harness Accenture’s advanced technology, digital platforms and artificial intelligence expertise to enhance the operations and service offerings of VSOL.
In another major development, the CCI also approved the acquisition of a stake in MTC Business Pvt Ltd by Mitsui & Co (Asia Pacific) Pte Ltd, a subsidiary of the Tokyo-based conglomerate Mitsui & Co Ltd. MTC Business, an Indian firm, is engaged in the global trading of ferrous and non-ferrous metal scrap, ferroalloys, and various metals.
Mitsui & Co (Asia Pacific) operates across multiple business sectors, including iron and steel products, and this investment is expected to further strengthen its position in the metals trading industry.
