The CCI has approved (tweeted) mortgage major HDFC's acquisition of 51.20 per cent stake in Apollo Munich Health Insurance and subsequently merger of the latter into HDFC Ergo in a deal worth nearly Rs 1,347 crore. HDFC Chairman Deepak Parekh had said the merger with HDFC Ergo will create a strong health insurance franchise with combined gross direct premium of Rs 10,807 crore.

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