Amazon Urges Anti-Trust Body To Revoke Future-Reliance Deal's Okay
NDTV
Amazon has asked the Competition Commission of India to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance
Amazon has asked the Competition Commission of India (CCI) to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows.
The approval for the deal was a "nullity in the eyes of law" as an arbitrator's order was still in force, according to the letter sent by Amazon.com Inc to the CCI last week.
The battle between two of the world's richest men, Amazon founder Jeff Bezos and Reliance Industries Limited boss Mukesh Ambani, marks a contest for pre-eminence in India's booming, nearly trillion-dollar retail market.
The winner in the fight for Future Retail Limited, India's second-largest retailer and Amazon's estranged local partner, will get pole position in the race to meet the daily needs of more than a billion people.
