New Delhi, July 9 -- The Competition Commission of India (CCI) approved the acquisition of wealth and lending units of UBS AG by 360 ONE Group entities.

According to the Competition Commission of India, the transaction involves the transfer of key financial services operations, including portfolio management, stock broking, distribution, and lending from UBS AG to the 360 ONE entities.

The proposal approved by the Competition Commission suggests that 360 ONE Portfolio Managers Limited will acquire the portfolio management services business of Credit Suisse Securities (India) Private Limited.

Simultaneously, 360 ONE Distribution Services Limited will take over the stock broking and financial product distribution services of the same ent...