Question : Under which act CCI has approved acquisition of JIo Platforms by Google ?
(a) Section 31(1) of the Competition Act, 2002
(b) Section 32(1) of the Competition Act, 2003
(c) Section 33(1) of the Competition Act, 2001
(d) Section 34(1) of the Competition Act, 2002
Answer (a)
Related facts
- The Competition Commission of India (CCI) approves acquisition of 7.73% equity share capital of Jio Platforms Limited (JPL) by Google International LLC (GIL) under Section 31(1) of the Competition Act, 2002.
- GIL is a wholly owned subsidiary of Google LLC(collectively with all Google LLC subsidiaries, Google). Google LLC is a Delaware limited liability company and wholly owned subsidiary of Alphabet Inc.
- GIL is a holding company and does not own / operate any of Google’s products/ services.
- JPL is a subsidiary of Reliance Industries Limited, which holds the majority of its issued equity share capital.
- JPL along with its subsidiaries primarily offers / will offer digital products / services, including wireless, home broadband and enterprise broadband services, telecommunication services, mobile applications, various digital platforms, back-end technology services for ecommerce entities and other miscellaneous software and technology related services.
By — Pankaj Pandey.
Link:
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1672142