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On Wednesday the fair trade regulator CCI has approved AXA’s proposal to hike its stake from 26 percent to 49 percent in its two insurance ventures with Bharti Group, Bharti AXA General Insurance and Bharti AXA Life Insurance.
The Competition Commission of India said that it has approved the proposed transactions.
The government has approved FDI in the insurance sector up to 49 percent in March, and AXA is the first foreign partner to increase its stake in a domestic insurance company.
