Flipkart-ABFRL deal gets CCI nod

The Competition Commission of India (CCI) on Wednesday approved the ₹1,500-crore Flipkart-Aditya Birla Fashion and Retail Ltd (ABFRL) deal, which will help the Walmart Inc.-owned e-tailer consolidate its position in the apparel business.

“Commission approves acquisition of a 7.8% minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd,” CCI said in a tweet.

The deal, which was announced last October, will help Aditya Birla Fashion cut its debt and expand into new apparel categories and give Flipkart a significant edge over Amazon, which is trying to challenge the Walmart-owned company’s dominance in online fashion retailing.