CCI by its order dated August 19, 2015 approved the proposed combination relating to acquisition of transmission and telecommunication tower business of Sujana Towers Limited by Agarwal Steel Structures (India) Limited on a slump sale basis.
Agarwal Steel is engaged in the tower business. Sujana Towers is engaged in tower business as well as manufacturing and trading of iron and steel products and steel re-rolling which can serve as a raw material for towers, tower parts and substation structures.
The CCI noted that the post-combination market share of the acquirer in the tower business in India is not significant. Further, there are a number of players in the tower business in India including BS Ltd., Adhunik Alloys, etc.