Future-Reliance deal gets Indian competition commission's nod in setback for Amazon

Future-Reliance deal gets Indian competition commission's nod in setback for Amazon

In a huge setback for e-commerce giant Amazon, Competition Commission of India (CCI) on Friday approved the much-anticipated Future Group-Reliance Retail deal. “Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited,” CCI said in a tweet.

Mukesh Ambani-led Reliance Industries Ltd in August acquired the businesses of Kishore Biyani’s Future Group for 24,713 crore to add to its fast expanding retail business.

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