The Competition Commission of India (CCI) has approved U.S. retail giant Walmart’s proposed acquisition of 77% stake in Indian e-commerce company Flipkart.
About:
Status: A statutory body established under the provisions of The Competition Act, 2002.
Established in:
Composition: A Chairperson and 6 Members appointed by the Central Government.
Mandate: To implement provisions of The Competition Act, 2002 which –
prohibits anti-competitive agreements and abuse of dominant position by enterprises
regulates mergers and acquisition (M&A) which can have an adverse effect on competition within India. Thus, deals beyond a certain threshold are required to get clearance from CCI.
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