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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