Canada-based La Caisse gets CCI nod to acquire stake in Altius Telecom InvIT

Fair trade regulator CCI has approved the Canadian Pension Fund La Caisse's proposal to acquire a stake in Altius Telecom Infrastructure Trust.

"The proposed transaction is being notified under Section 6 (4) of the Competition Act, 2002," the Competition Commission of India (CCI) said in a notice.

Under the green channel route, a transaction that does not pose any risk of an appreciable adverse effect on competition is deemed to be approved upon being intimated to the competition watchdog.


"The acquirer (CDPQ Infrastructures Asia III Inc) proposes to acquire certain unitholding in the target (Altius Telecom Infrastructure Trust)," a notice submitted to the CCI said on August 28.

CDPQ Infra III is an investment vehicle and direct wholly-owned subsidiary of Caisse de depot et placement du Quebec (La Caisse), a Canadian institutional fund manager.

La Caisse is present in India through its subsidiaries, CDPQ India, Ivanhoe Cambridge Investment Advisory (India) Pvt Ltd, and SITQ India Pvt Ltd.

Altius Telecom Infrastructure Trust, formerly Data Infrastructure Trust, is a Sebi-registered infrastructure investment trust (InvIT). Altius is engaged in the provision of passive telecom infrastructure services in India.

"The activities of the parties, their respective group entities and their affiliates do not exhibit any horizontal overlaps, vertical linkages and complementary linkages in any of the plausible relevant markets in India," the notice said.