CCI Clears Manipal Group’s Proposal To Buy Stake In Aakash

The Competition Commission of India (CCI) has cleared the proposal by the Manipal Group to acquire a significant stake in the test preparation giant, Aakash Educational Services. This approval from the competition watchdog is a crucial step in the completion of this major deal in the Indian education sector. The CCI has likely concluded that the acquisition will not have an adverse effect on competition in the market for coaching and test preparation services. The deal involves the Manipal Group becoming a major shareholder in Aakash, which was earlier in a partnership with Byju's. This clearance paves the way for the creation of a formidable player in the Indian education space, combining Manipal's expertise in higher education with Aakash's strong presence in the test prep market.