A PYMNTS Company

India: Wal-Mart takes bigger bite out of wholesale venture

 |  December 17, 2013

Global retail giant Wal-Mart has reportedly been cleared by the Competition Commission of India to acquire the rest of its joint venture with Bharti group, a partnership to operate wholesale stores in the nation.

Wal-Mart and Bharti first announced plans to end their joint venture last October; the CCI initially required certain conditions for the deal, but has ultimately decided that Wal-Mart’s full takeover of the venture would not harm competition.

The operation currently owns 19 wholesale stores in India.

Full Content: First Post

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.