Competition Commission has cleared the proposed purchase of 2 percent stake in handset maker Micromax by Madison India Opportunities Trust Fund (MIOTF) besides three other deals involving different companies. In a tweet, the watchdog said it has approved “acquisition of equity stake in Micromax Informatics Limited by Madison India Opportunities Trust Fund”. Also Read - Micromax to bring a budget phone with price likely under Rs 10,000: Check launch date
MIOTF is registered with capital market regulator as an Alternative Investment Fund. Separately, Competition Commission of India (CCI) has given its nod to ICU Medical Inc buying drug major PfizerBSE -0.16 %’s hospira infusion systems business. Post deal, Pfizer would own around 16.6 percent of ICU Medical, as per a release issued by the drug maker in October. Also Read - 5 delayed smartphone launches in India due to COVID-19 in May 2021
In another tweet, CCI said its has cleared “acquisition of Pfizer Inc’s Hospira Infusion Systems business by ICHOSPIRA U Medical Inc”.