New Delhi, February 17 The Fair Trade Regulator, CCI, has approved the acquisition of the portfolio management services business of Axis Securities Ltd by Axis Asset Management Company Ltd.
"The proposed combination involves the acquisition of the portfolio management services business of Axis Securities Limited (transferor) by Axis Asset Management Company in India (target business)," the regulator said in a statement on Tuesday.
The Competition Commission of India (CCI) has stated that it has cleared the proposed combination.
Axis Asset Management Company manages a mutual fund business and is also involved in the business of providing portfolio management services, among others.