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Competition Comm clears Walmart-Flipkart deal

PTI Last Updated at 08 Aug 2018, 19:08 IST India

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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