Traders’ lobby moves competition watchdog CCI against Walmart-Flipkart deal
Photo Credit: Reuters

The Confederation of All India Traders (CAIT) has filed an objection to Walmart Inc’s $16 billion merger with e-commerce company Flipkart with the country’s competition watchdog, it said on Monday.

U.S. retail giant Walmart said this month that it would pay $16 billion for a roughly 77 percent stake in Flipkart, which CAIT’s filing said would create unfair competition and result in predatory pricing.

The deal is aimed at helping Walmart to compete with in a major growth market, prompting protests from trade and nationalist groups that say small traders will suffer.

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