Competition Commission of India (CCI) has given its nod to private equity major Warburg Pincus' entity buying 9 per cent stake in leading insurer ICICI Lombard, reported PTI.
An investment holding company, Red Bloom is part of Warburg Pincus group.
In a tweet today, the Competition Commission of India said it has approved "acquisition of 9 per cent stake by Red Bloom Investment in ICICI Lombard General Insurance Company".
In another tweet, the regulator said it has cleared the merger of Chennai Network Infrastructure into GTL Infrastructure.
Both companies are into the telecom infrastructure space.
CCI keeps a tab on unfair business practices across sectors and transactions beyond a certain threshold require the regulator's approval.