The Competition Commission of India (CCI) is reviewing Facebook’s acquisition of 9.99 per cent stake in Reliance Industries Limited’s (RIL) Jio Platforms.
However, CCI has not disclosed a timeline for a decision on the Facebook-Jio deal, yet. According to rules, if the CCI does not decide on the deal within 210 days, it is deemed to be approved.
As per CCI, it looks to prevent misuse of data in all the deals it assesses. CCI is also examining if new parameters should be included in its assessment criteria as currently some mergers and acquisitions escape the threshold for scrutiny even if potential harm is evident.
Facebook, in its application to the CCI, has argued that the deal does not alter the competitive landscape in any relevant market.