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CCI seeks details from Samara Capital on Amazon's role in More's acquisition: report
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CCI seeks details from Samara Capital on Amazon's role in More's acquisition: report
Jan 7, 2019 12:22 AM

The Competition Commission of India (CCI) has sought details from Samara Capital on Amazon's role in acquiring Aditya Birla Retail's supermarket chain 'More' to find out if the deal is in accordance with the centre's revised foreign direct investment (FDI) policy, The Economic Times reported, citing sources.

The sources told the paper that CCI has asked Samara Capital-owned Witzig Advisory Services if Amazon will be involved in day-to-day operations of the supermarket, its representation on the board, if More will be joined into the Amazon India marketplace and if they the deal is in compliance with the revised FDI norms.

The responses are yet to be filed to the CCI, the report said.

Besides, Witzig has filed an application to the CCI for clearance in which it said Amazon.com NV Investment Holdings LLC will acquire 49 percent in Witzig while the remaining 51 percent will be held by Samara.

First Published:Jan 7, 2019 9:22 AM IST

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