Tata Group approaches CCI for proposed Air India-Vistara merger

Tata Group has filed an application with anti-trust regulator the Competition Commission of India (CCI) seeking its nod for the proposed Air India, Vistara merger. According to the filings, Vistara will be merged into Air India. Once the merger concludes, Singapore Airlines will be allotted additional shares in the merged entity through a preferential allotment. Post the proposed transaction, Tata Sons will hold at least 51% stake in the merged entity and will retain control while Singapore Airlines will hold a minority stake of 25.1%, the filings added. Both the airlines overlap or compete in several segments including domestic and international passenger air