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Cait files petition before Cci blocks Amazon deal to acquire 100pc stake in Cloudtail | Breaking News Updates

Cait files petition before Cci blocks Amazon deal to acquire 100pc stake in Cloudtail

The body of domestic traders CAIT said on Friday it has filed a petition with the Competition Commission of India (ICC) to block the deal Amazon has entered into in which they will acquire a 100% stake in Cloudtail. The petition provides evidence showing that Cloudtail charges lower fees / commissions and is a preferred seller on the platform, and with its 100% acquisition, Amazon will have a negative effect on the market, the Confederation of All Traders alleged. Indians (CAIT) in a declaration.

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“CAIT today filed a petition with India’s Competition Commission to block Amazon’s deal in which they will acquire a 100% stake in Cloudtail,” he added. The proposed deal raises some concerns from a competition law perspective, he said.

First publication: STI

Eleon Lass

Eleanor - 28 years I have 5 years experience in journalism, and I care about news, celebrity news, technical news, as well as fashion, and was published in many international electronic magazines, and I live in Paris - France, and you can write to me: [email protected]

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