The Competition Commission of India (CCI) has approved the proposed merger of Japan-based steel giants Nippon Steel Corporation and Sumitomo Metal Industries, according to Indian media reports.
The CCI stated that it has found that the proposed merger is not likely to cause any harm to competition in India. The companies are mainly operating in sales of various steel products in India.
As previously reported by SteelOrbis, the merger was also approved by the Japan Fair Trade Commission (JFTC) earlier this month.