Amazon asks Competition Commission (CCI) to withdraw approval for $3.4-billion Future (FRL)-RIL deal approval

Amazon asks Competition Commission (CCI) to withdraw approval for $3.4-billion Future (FRL)-RIL deal approval

 29 November 2021, Mumbai:

Amazon has asked India's antitrust regulator to revoke its approval for Future Group's $3.4 billion sales of retail assets to Reliance NSE 2.39 %, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows.

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The approval for the deal was a "nullity in the eyes of law" as an arbitrator's order was still in force, according to the letter sent by Amazon.com Inc to the Competition Commission (CCI) last week.

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The battle between two of the world's richest men, Amazon founder Jeff Bezos and Reliance Industries Ltd (RIL) boss Mukesh Ambani marks a contest for preeminence in India’s booming, nearly trillion-dollar retail market.

ET  (The news article has not been edited by DFU Publications staff)

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