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The Competition Commission of India (CCI) has given its nod for a proposed deal involving SoftBank Group entity purchasing a stake in food ordering and delivery platform Swiggy. SVF II Songbird (DE) LLC would acquire certain shareholding percentage in Bundl Technologies Pvt Ltd, according to a notice filed with the regulator.
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The approval by CCI is part of the fundraising plans of Swiggy where SoftBank is reportedly looking at investing around $450 Mn at a valuation of $5 Bn. SoftBank had put in a application seeking the approval of CCI for this transaction last month.