Competition Commission of India (CCI)

Money Moves

Approved the acquisition in July 2026

Unacademy, once one of India's most valuable edtech startups, is now part of rival upGrad. The all-stock deal closed September 1, 2026, at a valuation just over $200 million, about 94% below Unacademy's $3.44 billion peak in 2021.

Updated Sep 1

Rule Changes

Defending global turnover-based penalty calculation against Apple challenge

Apple controls what apps you can install, what features they can offer, and how much they cost. On January 8, 2026, the Ninth Circuit ruled that's perfectly legal—at least when it comes to shutting out a competitor's heart monitoring app. The decision caps a five-year battle with medical device maker AliveCor, which claimed Apple killed its SmartRhythm app by changing the Apple Watch heart rate algorithm in 2018. Judge Michelle Friedland held that Apple had no obligation to share its technology with rivals, invoking the rarely-successful refusal-to-deal defense. The same day, India doubled down on its right to impose antitrust penalties based on Apple's $380 billion global revenue, not just its Indian earnings, putting the company at risk of a $38 billion fine.

Updated May 19

Money Moves

Approval authority for the transaction’s competitive impact

MUFG just agreed to wire roughly $4.4 billion into Shriram Finance for a 20% stake—one of those deals that looks like 'just capital' until you read the fine print. The fine print is the story: board representation, minority-protection rights, and a separate $200 million non-compete/non-solicit payment tied to the promoter structure.

Updated May 15