Competition Commission clears Reliance-Future Group deal despite Amazon’s opposition

NEW DELHI: The Competition Commission has approved Reliance’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group.

The Rs 24,713 crore deal that would boost Reliance Industries’ fast growing retail business was announced in August.

In a tweet on Friday, the regulator said it has approved “acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited”.

Deals beyond a certain threshold require approval of the Competition Commission of India (CCI), which keeps a tab on unfair business practices across sectors.