January 20, 2022

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

CAIT files petition before CCI to block Amazon’s deal to acquire 100% shareholding in Cloudtail

Domestic traders’ body CAIT on Friday said it has filed a petition before the Competition Commission of India () to block the transaction that has been entered into by Amazon where they will acquire 100 per cent shareholding in Cloudtail. The petition provides evidence to show Cloudtail charges less fees/ commission and is a preferential seller on the platform, and with its 100 per cent acquisition, Amazon will cause an adverse effect on the market, the Confederation of All India Traders (CAIT) alleged in a statement.

“CAIT has today filed a petition before the Competition Commission of India seeking to block the transaction which has been entered into by Amazon where they will acquire 100 per cent shareholding in Cloudtail,” it added.

The proposed deal raises some concerns from the viewpoint of competition law, it said.

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