CCI approves internal restructuring of IBM Corporation under green channel route

New Delhi: The Competition Commission of India (CCI) has approved Kyndryl Holdings and Grand Ocean Managed Infrastructure Services’ proposal for the internal restructuring of IBM Corporation under the green channel route. Green channel is an automatic approval system, whereby a combination is deemed to have been approved by the CCI upon receiving the filing of the notice for the combination by the parties concerned.

International Business Machines Corporation (IBM Corporation/ Seller) plans to spin off its global MIS Business into a new public company, within the framework of an International corporate internal re-organization,” a press release stated.