CAIT files petition before CCI: Seeking to block Amazon's deal to pick up Cloudtail 100% shareholding
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17 January 2022, Mumbai:
Domestic traders' body the Confederation of Indian Traders Association (CAIT) has filed a fresh petition before the Competition Commission of India (CCI) to block the acquisition of Cloudtail India by Amazon Asia Pacific.
Last month e-commerce giant announced its plans to take full control of Cloudtail - the largest seller on its platform. It had approached the CCI for approval to acquire Narayana Murthy-led Catamaran Ventures stake in Prione which operates Cloudtail.
In its prayer to the commission CAIT said, "Pass an order blocking or keeping in abeyance the proposed combination of acquisition of Prone Business Services Pvt Ltd by Amazon Asia Pacific Resources Pvt Ltd in C-20210120893 till pendency of Case no. 40/2019".
(The news article has not been edited by DFU Publications staff)
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