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Competition Comm clears Walmart-Flipkart deal

Press Trust of India  |  New Delhi 

The today said it has approved US Walmart's proposed acquisition of

In May, Inc announced acquisition of 77 per cent stake of in its biggest takeover till date.

The deal values the 11-year old Indian firm at USD 20.8 billion.

"@CCI_India approves proposed acquisition of Private Limited by Holdings, Inc," the regulator said in a tweet.

Deals beyond a certain threshold are required to get clearance from the of India (CCI).

The regulator keeps a tab on unfair business practices in the market place.

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

First Published: Wed, August 08 2018. 19:40 IST