New Delhi, June 18 -- Shares of logistics company Delhivery rose over 2 percent in intra-day trading on Wednesday after the Competition Commission of India (CCI) approved its proposed acquisition of a majority stake in rival Ecom Express Ltd. The move marks a significant consolidation in India's e-commerce logistics space and aims to strengthen Delhivery's last-mile delivery and fulfilment capabilities.

In a statement issued on Tuesday, the CCI confirmed its approval for Delhivery Ltd to acquire at least 99.44 percent of the equity and preference shares of Ecom Express on a fully diluted basis. This acquisition, valued at up to Rs.1,407 crore, is seen as a strategic effort to expand Delhivery's operational scale and competitive edge.

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