The Competition Commission of India (CCI) on Tuesday cleared the Rs.2,058 crore deal by Abu Dhabi’s Etihad Airways PJSC to buy a stake in Jet Airways (India) Ltd, the first such investment since the government eased ownership rules for foreign airlines.
This was the last hurdle for Jet Airways as the Indian cabinet had cleared the deal on 4 October.
The anti-trust regulator, in its order, said that it is granting the present approval “pursuant to the underlying competition assessment, based upon the information/details provided” by the companies.
“This approval should not be construed as immunity in any manner from subsequent proceedings before the Commission for violations of other provisions of the Act. It is incumbent upon the parties to ensure that this ex-ante approval does not lead to ex-post violation of the provision of the Act,” it said in its order.
Full report here Mint