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The Competition Commission of India has approved Varun Beverages’ proposal to enter into a binding agreement with PepsiCo to acquire franchise rights in the southern and western regions of the country. In February, the company had announced its plans to acquire franchise rights of PepsiCo in the two regions for a national bottling, sales and distribution footprint in seven States and five Union territories. Shares of Varun Beverages edged down 0.81 per cent at ₹804.15 on the NSE.
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