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.

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.

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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