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The Competition Commission of India has approved the proposed merger of Welspun Global Brands Ltd (WGBL) into Welspun India (WIL).
The anti-monopoly watchdog has also given its nod to hiving off of the marketing business of WIL into another group firm Welspun Retail Ltd (WRL).
“... The Commission is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission hereby approves the proposed combination under the Act,” CCI said.
In May 2012, WGBL had approved the merger of the company into group firm WIL.
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