India CCI Clears Axis Bank’s Purchase of Citi’s Local Retail Ops

The Competition Commission of India has approved Axis Bank’s purchase of Citibank’s retail banking unit in the South Asian country, the antitrust watchdog says in a Twitter post.

• NOTE: Axis Bank said July 25 it had applied for the approvals to acquire Citibank’s consumer business and that the integration process will pick up pace once approvals are in place
• NOTE: On March 30, Citi to Sell India Retail Unit for $1.6 Billion to Axis Bank (2)

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Tuhin Kar in London at tkar1@bloomberg.net

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