Indian trader group objects to Walmart-Flipkart deal
Updated : May 29, 2018 07:11 AM IST
The Confederation of All India Traders (CAIT) filed an objection to the US retail giant's buyout of roughly 77% of Bengaluru-based Flipkart, the body said on Monday, adding that the deal would create unfair competition and result in predatory pricing.
Walmart's bid is at aimed at competing with arch rival Amazon.com Inc in a major growth market and prompted protests from Indian trade and nationalist groups that say small traders will suffer.
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