The Competition Commission of India (CCI) is likely to give an in-principle nod to Axis Bank-Max Life deal, sources told CNBC-TV18 on Thursday. Axis Bank holds about 2 per cent in Max Life Insurance.

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On completion of the deal, Axis Bank's stake in Max Life will increase to 9.9 percent. In addition to this, Axis Capital and Axis Securities will together acquire 3 percent in Max Life, sources said.

Sources added that Axis has a right to increase its shareholding by 7 percent in Max Life to a maximum of 19.99 per cent.

More details are awaited.

First Published:Jan 7, 2021 7:53 PM IST