Walmart seeks CCI nod for $16-billion Flipkart acquisition
Walmart has sought the approval of the Competition Commission of India for its $16-billion acquisition of Flipkart, according to a filing. Walmart has said the deal doesn't raise any competition concerns. Since the Walmart-Flipkart deal, which values the Indian e-commerce startup at around $21 billion, the two firms have been facing allegations of flouting FDI norms and promote loss funding.