INSUBCONTINENT EXCLUSIVE:
Shares in Future Retail Ltd surged 13 per cent on Friday.Bengaluru: Shares in Future Retail Ltd surged 13 per cent on Friday, after the
antitrust body approved a deal that would give Amazon.com Inc a minority stake in one of the country's top retail groups.Future Retail in
August announced the deal that would result in the US online retail giant acquiring a 3.58 per cent stake in the company, which runs over
1,500 stores in the country and owns budget department store chain Big Bazaar.The companies had not disclosed the value of the deal, which
would help Amazon push deeper into India's booming retail market.In a brief statement on Thursday, the Competition Commission of India (CCI)
said it had approved Amazon's purchase of a 49 per cent stake in Future Coupons Ltd, an entity that owns about 7.3 per cent of Future
Retail, adding that it would soon provide a detailed order.Reuters reported early this month that the CCI had sought more information from
Amazon about the planned transaction.Last year, Amazon and private equity firm Samara Capital announced a joint investment in an entity that
would give Amazon a stake in local supermarket chain More.The Seattle-headquartered firm also owns a stake in department store chain
Shopper's Stop.Shares in Future Retail were higher by 13.8 per cent by 10 a.m
Shares in other Future Group companies - Future Enterprises Ltd, Future Consumer Ltd and Future Lifestyle Fashions Ltd - were higher by 2
