CCI approves L&T's proposed acquisition of 66.15% stake in Mindtree

L&T has made an unsolicited offer to acquire majority stake in Mindtree and an committee of the IT firm's independent directors is looking into it

The Competition Commission Friday said it has approved diversified group Larsen & Toubro's proposed acquisition of up to 66.15 per cent stake in IT firm Mindtree Ltd.

L&T has made an unsolicited offer to acquire a majority stake in Mindtree and a committee of the IT firm's independent directors is looking into it.

In a tweet, the Competiton Commission of India (CCI) said, "it approves the acquisition of up to 66.15 per cent of the total equity shareholding of Mindtree Ltd, on a fully diluted basis, by Larsen and Toubro Ltd".

Deals beyond a certain threshold require clearance from the fair