P5 Asia Holding Investment (Mauritius) Limited, Mauritius
Case brief
What is this about?
The Competition Commission of India considered a notice for the proposed acquisition of 4.85% equity shares of Indus Towers Limited by P5. After assessing vertical and horizontal overlaps, the Commission held the combination would not appreciably affect competition and approved it under Section 31 of the Competition Act.
What did the court decide?
The proposed combination of acquisition of 4.85% equity shares of Indus Towers Limited by P5 Asia Holding Investments (Mauritius) Limited was approved.
What the court decided
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2016/10/452)
7th December 2016
Notice under Section 6 (2) of the Competition Act, 2002 given by P5 Asia Holding Investments (Mauritius) Limited.
CORAM:
Mr.Devender Kumar Sikri Chairperson
Mr. Sudhir Mital Member
Mr. Augustine Peter Member Mr. U.C. Nahta Member Mr. G.P. Mittal Member
Legal Representative: Nishith Desai Associates
Order under Section 31(1) of the Competition Act, 2002
- On 26th October, 2016, the Competition Commission of India (hereinafter referred to as the “ Commission ”) received a notice given by P5 Asia Holding Investments (Mauritius) Limited (“P5”/ “Acquirer”) regarding its proposed acquisition of 4.85% equity shares of Indus Towers Limited (“Indus”) . (Hereinafter, P5 and Indus are collectively referred to as “Parties” ). The notice was filed pursuant to the Bilateral Indus Shareholders’ Agreement (“ BISA ”) dated 27th September, 2016, entered into between P5, Aditya Birla Telecom Limited ( ABTL ) and Idea Cellular Limited (“ Idea ”).
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of 4.85% equity shares by P5 from ABTL is likely to have any appreciable adverse effect on competition in India.
Whether the proposed combination involves horizontal or vertical overlap between the parties.
Parties & counsel
- petitioner
Competition Commission of India
- other
P5 Asia Holding Investments (Mauritius) Limited
- other
Indus Towers Limited
Coram
Case details
As recorded by the court registry
- Court
- CCI
- Decided on
- · December
- Case no.
- C-2016/10/452
- Topic
- Consumer Protection
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