Domestic traders' body CAIT on Friday said it has filed a petition before the Competition Commission of India (CCI) to block the transaction that has been entered into by Amazon where they will acquire 100% shareholding in Cloudtail. "CAIT has today filed a petition before the Competition Commission of India seeking to block the transaction which has been entered into by Amazon where they will acquire 100 per cent shareholding in Cloudtail," it added. Amazon India has proposed to take full control of Cloudtail, the largest and longest-serving seller on its platform, just months after deciding to end the joint venture. Amazon has approached the CCI for approval to acquire Narayana Murthy-led Catamaran Ventures stake in Prione, which operates Cloudtail. Once Amazon takes full ownership, though, Cloudtail won’t be able to continue as a seller on the marketplace under India’s current rules.

Source: Mint January 15, 2022 04:55 UTC