Walmart seeks approval of Competition Commission for Flipkart acquisition
Walmart has sought the approval of fair trade regulator Competition Commission of India (CCI) for the acquisition of Flipkart. Walmart told the regulators, Flipkart is a Singapore-based investment holding firm. Although Walmart is a world’s largest retailer, in India it has wholesale cash-and-carry business here. While acquisition and mergers require the approval of the Competition Commission of India.