CCI says no 'overlaps' in SpiceJet-Ajay Singh deal

NEW DELHI: The Competition Commission has said Ajay Singh's acquisition of controlling stake in SpiceJetBSE -0.84 % will have no "horizontal overlaps or vertical relationship" between the two parties.

 As part of a revival plan, Singh has snapped up 58.46 per cent stake in SpiceJet after getting green signal from the Competition Commission of India (CCI).

 Clearing the deal, the fair trade watchdog said it was not "likely to cause any appreciable adverse effect on competition in India".

 In its order, dated February 19 and made public today, CCI said that Singh is not associated with the operations or ownership of any other existing airline.

Source: http://goo.gl/wzVX3j