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28May By reutersNo Comments

INDIA

Google faces Antitrust case in India over payments app

NEW DELHI (Reuters) - India’s antitrust body is looking into allegations that Alphabet Inc’s Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters. The complaint was filed in February and the Competition Commission of India (CCI) has kept the identity of the complainant confidential, the first source with direct knowledge of the case said. The complaint alleges the U.S. tech giant more prominently showcases its Google Pay app inside its Android app store in India, giving it an unfair advantage over apps of competitors which hurts consumers, the source added. Google did not respond to a request for comment. Two of the sources said the watchdog informed Google about the case being filed a f...

Retailers Demand CCI to Take Action Against Walmart-Flipkart Deal

22May By Lavina TolaniNo Comments

News

Retailers Demand CCI to Take Action Against Walmart-Flipkart Deal

Traders Body, Confederation of All India Traders ( CAIT ) has decided to approach fair trade regulator CCI against $16 billion Walmart-Flipkart deal claiming that the agreement would lead to massive job loss and will turn out a nightmare for retail trade in the country. It is interesting to note that US giant Walmart had approached CCI just last week to garner approval for its mega Flipkart buyout stating that it doesn't raise any competition concerns. Meanwhile, the All India Online Vendors Association (AIOVA) industry body on Monday has also moved to Competition Commission of India (CCI) against Flipkart India Pvt Ltd. a wholesale company, for allegedly abusing its dominant position on Flipkart's online marketplace. The body has claimed that Flipkart India Pvt Ltd. sources goods...

Walmart Approaches CCI For Approval Over Flipkart Acquisition

20May By Lavina TolaniNo Comments

News

Walmart Approaches CCI For Approval Over Flipkart Acquisition

After acquiring Indian e-commerce unicorn Flipkart, US giant Walmart Inc. has finally sought approval of India's Anti-Trust Regulator for its mega $16 billion acquisition. According to a Regulatory Filing sent to Competition Commission of India (CCI), Walmart has said that its buyout of Flipkart does not result in competition concerns as the broader retail market in India remains unaffected by the deal. Walmart has reported CCI that Flipkart is a Singapore based entity and the deal has been done through its subsidiary Walmart International Holdings. Moreover, Since Flipkart India is primarily engaged in the business of wholesale cash and carry goods, its acquisition will only affect B2B markets, Walmart added. Notably, Walmart has been facing resistance by tough regulations that p...

Competition Commission of India Imposes Rs 136 Crore Fine on Search Giant Google

9Feb By RishabhNo Comments

News

Competition Commission of India Imposes Rs 136 Crore Fine on Search Giant Google

Competition Commission, the statutory body of India, has imposed a fine of Rs 136 crore (around $ 21.1 million) after finding it guilty of abusing its dominant position in India. The amount of penalty charges is equivalent to about 5 percent of Google's revenue from India. What is the case all about? The case was filed back in 2012 by Matrimony.com, former Bharat Matrimony (Case No. 7), and Consumer Unity & Trust Society (Case No. 30), when they complained the watchdog CCI about Google's about Google's anti-competitive behavior. Alphabet Inc's search giant provides online search services and advertisement space- AdWords and AdSense. The complaints submitted to the CCI focused on Google's biased search results, in which it was favoring Google's own services and partners, ...

Alibaba.com Seeks CCI To Acquire Stakes In BigBasket

10Nov By RishabhNo Comments

FUNDING

Alibaba.com Seeks CCI To Acquire Stakes In BigBasket

Chinese e-tailing giant Alibaba has been reported seeking formal approval Competition Commission of India(CCI) to acquire substantial stakes in the Indian online grocery startup BigBasket. Earlier in July, Alibaba and SoftBank backed Paytm initiated a discussion to acquire stakes by investing $200 million in the online grocer. Although Paytm and BigBasket declined at that moment about the development. As soon as it gets the permit Alibaba Group Holding's Alibaba.com Singapore E-Commerce will carry out the transaction. As per the source VCCircle this acquisition will help the online grocery firm BigBasket to consolidate its numero uno position and help it compete with rival Amazon, who has committed $500 million towards its food retail unit in the coming 2 years. Also Recomm...

Flipkart-eBay India Deal Gets Indian Government Nod

16Jun By Ankita SinghNo Comments

BUSINESS

Flipkart-eBay India Deal Gets Indian Government Nod

E-commerce major Flipkarts proposed acquisition of eBay India has received approval from the Competition Commission. Besides, the fair trade regulator has given nod to eBay Singapores subscription of compulsorily convertible preference shares (CCPS) issued by Flipkart. In a tweet, the Competition Commission of India (CCI) said that it has approved "subscription by eBay Singapore of CCPS issued by Flipkart and acquisition of eBay India by Flipkart". As per the notice submitted to the regulator, the transaction relates to the acquisition of 100 per cent share capital of eBay India by Bangalore based e-commerce firm Flipkart. The transaction also involves the acquisition of certain compulsorily convertible preference shares of Flipkart by eBay Singapore, as per the notice. Earl...

4Feb By NitishNo Comments

ACQUISITION

CCI Clears Acquisition of Ibibo Group By MakeMyTrip

Fair trade regulator CCI has approved online travel portal MakeMyTrip's proposed acquisition of rival Ibibo group in an equity deal that would create one of the country's largest online travel firm. As per the deal announced in October last year, South Africa's Naspers and China's Tencent Holdings would sell Ibibo Group to MakeMyTrip in exchange for an issuance of new shares by the latter. The Competition Commission of India (CCI) has approved the deal, as per the latest update on the regulator's website. Post completion of the transaction, MakeMyTrip would own 100 per cent of Ibibo Group, and Naspers and Tencent will become largest shareholder in MakeMyTrip, owning a 40 per cent stake and will contribute proportionate working capital, MakeMyTrip had announced in October last year. ...