Amazon slid nearly 2% in morning trading as India suspended its 2019 deal with Future Group_老虎社区_美港股上老虎

Amazon slid nearly 2% in morning trading as India suspended its 2019 deal with Future Group

Tiger Newspress2021-12-17

Amazon slid nearly 2% in morning trading as India suspended its 2019 deal with Future Group.India's antitrust body on Friday suspended Amazon.com's 2019 deal with Future Group following a review of allegations that the U.S. e-commerce giant had concealed information while seeking regulatory approval.

The unprecedented step taken by the Competition Commission of India (CCI) could have far-reaching consequences on Amazon's legal battles with now estranged partner Future. The U.S. firm has for months successfully used the terms of its toehold $200 million investment in 2019 to block Future's attempt to sell retail assets to Reliance Industries for $3.4 billion.

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