The Competition Commission on Wednesday said it had approved U.S. retail giant Walmart’s proposed acquisition of Flipkart.
In May, Walmart announced the acquisition of 77% stake in Flipkart, the biggest takeover by the U.S. company till date.
The transaction values the 11-year-old Indian e-commerce company at $20.8 billion.
Deals beyond a certain threshold are required to get clearance from the Competition Commission of India (CCI).
The regulator keeps a tab on unfair business practices in the market place.
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