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The Competition Commission of India (CCI) has approved Google's investment in Flipkart, which is part of a larger funding round totaling $1 billion. The specific investment amount cleared by the CCI is $350 million, announced earlier in May. According to the CCI's order, this investment involves an 'extremely small and non-controlling acquisition of shareholding,' ensuring that both Google and Flipkart will continue to operate independently following the transaction.
.@CCI_India approves the proposed acquisition of shares in Rebel Foods Private Limited by Jongsong Investments Pte. Ltd. Read here: https://t.co/8JEy9RaK6c
.@CCI_India approves transaction involving subscription of shares of Flipkart Private Limited by Shoreline International Holdings LLC Read here: https://t.co/HqLOmX9mR2
#TechWithMC | Alphabet gets CCI's clearance to acquire stake in Flipkart 🏢💰🔄 Know more⤵️ https://t.co/K20KQFtCmG #Alphabet #CCI #Acquisition #Stake #Flipkart