Competition Commission of India approves Sharekhan-BNP Paribas deal

NEW DELHI: The Competition Commission of India ( CCI) has approved the acquisition of retail brokerage firm Sharekhan by global financial services group BNP Paribas.

In July last year, BNP had announced that it had entered into an agreement to acquire the brokerage firm.

Sharekhan will join BNP Paribas’ Personal Investors division, which is a key player in retail brokerage and digital banking services with 1.7 million clients in Europe, as BNP claims on its website.

Based in Mumbai, Sharekhan offers broking solutions across all asset classes to more than 1.2 million private clients. Sharekhan has 7 per cent market share in terms of number of accounts.