CCI clears Tata’s acquisition of BigBasket

NEW DELHI : The Competition Commission of India has cleared Tata group’s purchase of online grocer BigBasket, an official statement said, adding that a detailed order will be issued.

The statement did not suggest any modification to the acquisition which is reported to be of Rs9,500 crore. The competition watchdog can suggest modifications to transactions if any element of a deal is found to pose an appreciable adverse effect on competition. That is determined by taking into account the combined presence of the entities after the transaction in specific product or service markets.

The statement said that CCI approved Tata’s digital services arm Tata Digital Ltd’s acquisition of up to 64.3% of the total share capital of Supermarket Grocery Supplies Private Ltd (SGS) engaged in online business-to-business transactions through business.bigbasket.com.