Competition Comm clears Walmart-Flipkart deal
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The Competition Commission today said it has approved US retail giant Walmart's proposed acquisition of Flipkart.
In May, Walmart Inc announced the acquisition of a 77 percent stake of Flipkart in its biggest takeover till date.
The deal values the 11-year old Indian e-commerce firm at USD 20.8 billion.
Deals beyond a certain threshold are required to get clearance from the Competition Commission of India (CCI).
The regulator keeps a tab on unfair business practices in the marketplace.
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