Accenture Gets Green Light from CCI for Vodafone Shared Operations Stake

The Competition Commission of India approved Accenture's acquisition of a stake in Vodafone Shared Operations. This strategic partnership, announced last November, involves a €150 million investment by Accenture. Additionally, CCI cleared Mitsui & Co's acquisition of a stake in MTC Business Pvt Ltd, which operates in metal trading.

The Competition Commission of India (CCI) on Wednesday gave the green light to Accenture's acquisition of a stake in Vodafone Shared Operations.

Vodafone Shared Operations Ltd (VSOL), a subsidiary of Vodafone Group Plc, provides shared services to Vodafone Group and its network of partner telecommunications companies. In November last year, the Vodafone Group announced a strategic partnership with Accenture to commercialize its shared operations. Dublin-based Accenture has committed €150 million for a minority stake in this joint venture, aiming to utilize its advanced digital solutions, platforms, and AI expertise.

In another significant move, CCI also approved the acquisition of a stake in MTC Business Pvt Ltd by Mitsui & Co (Asia Pacific) Pte Ltd. Mitsui & Co (Asia Pacific) is a wholly-owned subsidiary of Tokyo's Mitsui & Co Ltd, operating across various sectors including Iron & Steel Products and mineral resources. MTC Business, an Indian company, deals in the trading of ferrous and non-ferrous metal scrap globally. The commission ensures that such deals adhere to regulations promoting fair competition in the marketplace.

(With inputs from agencies.)