India competition regulator suspends Amazon’s deal with Future Group
JURIST
DECEMBER 18, 2021
In an unprecedented move, the Competition Commission of India (CCI) Friday suspended the approval given for Amazon’s 2019 investment in Future Coupons Private Limited (FCPL), claiming that the US e-commerce giant concealed critical information while seeking regulatory clearance. It also levied a penalty of ?202 crores on Amazon. In November 2019, the CCI had permitted Amazon to acquire a 49 percent stake in FCPL, the promoter entity of Future Retail Limited (FRL), through a call option within 3-
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