New Delhi, Nov. 25 -- The Competition Commission of India (CCI) has approved three major acquisition proposals across the financial services, power generation and industrial manufacturing sectors, signalling an active phase of corporate consolidation in the country.

In the financial sector, CCI cleared the proposal by ICICI Prudential Asset Management Company Limited to acquire select businesses of ICICI Venture Funds Management Company Limited.

The transaction covers the management and sponsorship of five SEBI-registered Alternative Investment Funds, along with a non-exclusive advisory business that offers investment recommendations to an offshore private equity fund.

ICICI Prudential AMC, a joint venture between ICICI Bank and Pruden...