FILE PHOTO: The logo of India’s e-commerce firm Flipkart is seen on the company’s office in Bengaluru, India April 12, 2018. REUTERS/Abhishek N. Chinnappa/File Photo
May 28, 2018
MUMBAI (Reuters) – The Confederation of All India Traders (CAIT) has filed an objection to Walmart Inc’s <WMT.N> $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 Amazon.com <AMZN.O> in a major growth market, prompting protests from trade and nationalist groups that say small traders will suffer.
(Reporting by Abhirup Roy; Editing by David Goodman)
