Walmart's acquisition of Flipkart gets CCI's approval
The Competition Commission of India (CCI) on Wednesday said it has approved US retail giant Walmart's proposed acquisition of Flipkart announced in May this year. Walmart had announced acquiring a 77% stake in Bengaluru-based Flipkart in a $16 billion deal. The deal values the 11-year-old e-commerce firm at nearly $20.8 billion.