To address competition concerns
New Delhi, June 11, 2018: Fair trade regulator Competition Commission of India (CCI) might recommend structural changes to the proposed Walmart-Flipkart deal to address possible competition concerns, according to officials.
The CCI might take cues from a ruling in South Africa with respect to Walmart- Massmart deal, which was announced in 2010.
Last month, Walmart Inc. announced the acquisition of 77% stake in Flipkart for about $16 billion (₹1.05 lakh crore).
Seeks CCI nod
The retail giant has approached the CCI for approval, saying deal does not raise any competition concerns. However, various trade organisations have opposed the deal.
Officials said the CCI might take a cue from the South African example and might even recommend setting up of a long-term fund to modernise kiranas going forward besides supporting local manufacturing by SMEs (Small and Medium Enterprises).