Approval of CCI, India’s anti-trust regulator, is needed for mergers and acquisitions beyond a certain threshold. Last week, Walmart signed an agreement to acquire 77 per cent share in Flipkart for $16 billion, termed as the biggest global e-commerce buyout so far.
In its filing with the CCI, Walmart said that its proposed buying of majority share in Flipkart does not create any competition concerns. (RKS)
Fibre2Fashion News Desk – India
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