Big blow to Amazon! CCI approves Reliance-Future 24,713 Cr deal
Competition Commission of India has approved the acquisition deal of 24,713 Cr between Reliance Retail and Future Group. The deal will see Reliance Industries' retail arm acquire retail, wholesale, logistics and warehousing assets of the Kishore Biyani-led company.
Amazon, which owns a stake in a Future Group holding company, had approached the CCI and SEBI alleging the deal would violate some pre-existing agreements it had with Future Group.
"Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited," CCI said in a tweet.