As the Axis Bank-Citi deal has got approval from the Competition Commission of India, the amalgamation has moved an inch towards merger reality. The Rs 12,325-crore deal involves the merger with Citi’s personal loans, credit cards and wealth management businesses that are focused on the affluent segment, with Axis Bank. Here’s what it means for customers: The deal includes the …
The Competition Commission of India has approved the Rs 12,325 deal of Axis Bank’s acquisition of Citibank’s consumer businesses in India, the authority announced on Tuesday, July 26. “Commission approves acquisition of Citibank, N.A.’s and Citicorp Finance Limited’s undertakings comprising of their consumer banking activities by Axis Bank,” the CCI said on Twitter. Commission approves acquisition of Citibank, N.A.’s and …
