By Nathan Allen

Schneider Electric SE (SU.FR) said late Monday that the Indian Competition Commission has opened a further review of its planned takeover of Larsen & Toubro Ltd's (500510.BY) electrical-automation business.

Schneider disclosed in May that it planned to partner with Singapore's sovereign-wealth fund Temasek Holdings to buy the unit for 1.75 billion euros ($2.00 billion).

The French electrical company said the new review is in line with the proposed timeline and that it would continue to work with the commission in the coming months.

"The proposed combination is highly beneficial to consumers across India as well as for the Indian economy," Schneider said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

November 20, 2018 01:29 ET (06:29 GMT)

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