Walmart Files Application Before CCI for Approval of Flipkart Acquisition
Walmart has filed an application before Competition Commission of India (CCI) for the approval of the proposed acquisition of a majority stake in the home-grown Flipkart. According to the petition filed before the CCI, the proposed deal doesn’t not only violate any rules and won’t cause competition concerns. If you are unaware, Walmart had acquired more than 72% stake on Flipkart in a mega e-commerce acquisition.
The Walmart sources revealed that the proposed acquisition would be done through its subsidiary Wal-Mart International Holdings. In the petition, Walmart disclosed that the Flipkart is a Singapore-based investment holding firm, which i…