Setback For Amazon As CCI Gives Nod To Future Retail-Reliance Deal
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India, Nov. 20 -- The Competition Commission of India (CCI), on Friday (November 20), approved the controversial Reliance Retail-Future Group deal, which is currently being challenged in Singapore International Arbitration Centre (SIAC) and the Delhi high court.
"Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited," the CCI tweeted.
Mukesh Ambani-led Reliance Retail, in August 2020, acquired 30% stake in retail, wholesale, logistics, and warehousing businesses of the Future Group for INR 24K Cr. With this deal, Kishore Biyani's Future Enterprises Ltd (FEL) retained the manufacturing and distribution ...
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