CCI gives nod to PFC’s acquisition of 52 per cent stake in REC

The Power Finance Corporation’s (PFC) plan to buy a 52 per cent stake in the Rural Electrification Corporation (REC) has been approved by the Competition Commission of India (CCI). The government is expected to acquire Rs 150 billion from this sale. Government holding in REC has come down to 52.63 per cent following the stake sale through exchange-traded funds.

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