Fair Trade Regulator Clears Reliance-Future Retail Deal Despite Amazon Objection

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The country’s antitrust body on Friday cleared conglomerate Reliance Industries’ $3.4 billion deal to buy Future Group’s retail assets, thwarting Amazon.com’s efforts to block the deal.

The Competition Commission of India (CCI) announced its decision in a tweet on Friday, with details likely to be made public later.

Amazon had approached the CCI and the country’s market regulator SEBI alleging the deal would violate some pre-existing agreements it had with Future Group.

Last month Amazon won an injunction from a Singapore arbitrator to halt the deal pending arbitration.

Amazon, Future and Reliance did not immediately respond to a request for comment.

While the deal is yet to receive approval of stock exchanges and market regulator SEBI, the three companies are now embroiled in a legal battle at the Delhi High Court over the transaction.

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