INSUBCONTINENT EXCLUSIVE:
billion acquisition of e-commerce firm Flipkart, though lawyers and sources said the complaint to the country's antitrust regulator is
unlikely to threaten the deal.The Confederation of All India Traders (CAIT) filed an objection to the U.S
retail giant's buyout of roughly 77 percent of Bengaluru-based Flipkart, the body said on Monday, adding that the deal would create unfair
competition and result in predatory pricing.However, multiple sources close to the deal said that CAIT's filing with the Competition
Commission of India (CCI) did not pose a challenge to the acquisition."It's very unlikely the CCI will look into this complaint as both
Flipkart and Walmart are not competing in India in relation to any products or services," said a lawyer with knowledge of the deal.A source
with direct knowledge of the deal said the CAIT complaint was "not a matter of concern".Walmart's bid is at aimed at competing with arch
rival Amazon.com Inc in a major growth market and prompted protests from Indian trade and nationalist groups that say small traders will
suffer.Amazon's presence in India means that a Walmart-Flipkart alliance would not be a threat to competition, a CCI official said
However, the deal could be politically sensitive because it might affect small and medium-sized traders, added the official, who declined to
be named because he is not authorised to speak to the media.M
Sharma, head of competition law and policy at law firm Vaish Associates, said: "Blocking (of the deal) is highly unlikely, but the CCI will
been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
