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    CCI set to get more teeth to regulate tech giants’ M&As - Livemint thumbnail

    NEW DELHI :
    Global mergers and acquisitions (M&As) among technology giants that could disturb the competition landscape in India may soon require clearance from the Competition Commission of India (CCI). The change will bring mega deals such as the 2014 acquisition of WhatsApp by Facebook within the ambit of CCI.The government is likely to insert an enabling provision in the Competition Act to provide for this, based on the advice of an expert panel that reviewed the law last year, CCI chairman Ashok Kumar Gupta said in an interview. The change will incorporate deal size, which is currently not among the criteria for vetting global M&A deals with relevance to the Indian market, in CCI’s merger regulations.Currently, asset size and revenue in an M&A are the only criteria for competition scrutiny. This has proved to be inadequate as new-age technology companies have hu
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