Amazon's proposal to acquire Catamaran Ventures' entire stake in Prione Business Services Pvt. Ltd., a joint venture between Infosys co-founder N R Narayana Murthy's Catamaran Ventures and the US-based e-commerce giant, has been approved by the Competition Commission of India (CCI). In a tweet, the CCI stated that the transaction had been approved.
Cloudtail, one of the largest retailers on the e-commerce firm's Indian platform, is housed by Prione Business Services. CCI tweeted on Wednesday, "Commission approves acquisition of Prione Business Services Private Limited by Amazon Asia-Pacific Resources Private Limited." According to the sources, senior Amazon India executives will meet this week to discuss the issue.