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Last Updated : Aug 27, 2015 07:59 AM IST | Source: CNBC-TV18

Compat sets aside CCI order against Thomas Cook

CCI had imposed this penalty after Thomas Cook bought a 9.93 percent stake in Chennai-based Sterling Holidays from the open market just days before seeking the fair trade watchdog's approval for Rs 870-crore merger

 
 
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Tour and travel operator Thomas Cook has received a reprieve from the Competition Appellate Tribunal (Compat).

The tribunal has set aside a CCI order that imposed a penalty of Rs 1 crore on Thomas Cook and Sterling Holidays.


Remember, the CCI had imposed this penalty after Thomas Cook bought a 9.93 percent stake in Chennai-based Sterling Holidays from the open market just days before seeking the fair trade watchdog's approval for Rs 870-crore merger.



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First Published on Aug 26, 2015 09:54 pm
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