India greenlights Tata Electronics' acquisition of Wistron Infocomm
The Competition Commission of India (CCI) has approved Tata Electronics previously announced acquisition of Wistron InfoComm Manufacturing (India).
The 100% equity share will be acquired from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited, reports The Economic Times.
In the original announcement from late October, Wistron stated that the transaction price was tentatively estimated as USD 125 million.
Wistron InfoComm is an electronics manufacturing company engaged in electronic manufacturing services, in other words, an EMS provider, for smartphones in India, at its plant in Karnataka.
Apple and Wistron have been engaged in iPhone assembly in India since 2017 – before the Cupertino company expanded through contracts with EMS giant Foxconn. Observers now expect Tata to start making iPhones in the country.