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Wednesday, Dec 07, 2022
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CAIT Approaches CCI, Files Petition To Block Amazon's Deal To Acquire Cloudtail

The petition provides evidence to show Cloudtail charges fewer fees/ commission and is a preferential seller on the platform, and with its 100 per cent acquisition, Amazon will cause an adverse effect on the market.

CAIT Approaches CCI, Files Petition To Block Amazon's Deal To Acquire Cloudtail
CAIT Approaches CCI, Files Petition To Block Amazon's Deal To Acquire Cloudtail
outlookindia.com
2022-01-14T18:28:17+05:30

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 per cent shareholding in Cloudtail.

The petition provides evidence to show Cloudtail charges fewer fees/ commission and is a preferential seller on the platform, and with its 100 per cent acquisition, Amazon will cause an adverse effect on the market, the Confederation of All India Traders (CAIT) alleged in a statement.

"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.

The proposed deal raises some concerns from the viewpoint of competition law, it said.

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