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The Competition Commission of India (CCI) has approved Nippon Life's stake increase in Reliance Life Insurance to 49%.
Nippon Life had announced its plan to hike its stake from 26% to 49% in November 2015, subject to regulatory approvals.
The company had planned to invest Rs 2,265 crore for additional 23%. The transaction valued Reliance Life at almost Rs 10,000 crore.
