Competition commission approves Alphabet’s stake acquisition in Walmart-owned Flipkart

The Competition Commission of India (CCI) has approved Alphabet subsidiary Shoreline International Holdings LLC’s acquisition of a stake in Flipkart, a Walmart group firm. Shoreline International, a wholly-owned entity of Google’s parent company Alphabet Inc., will invest in Flipkart by subscribing to its shares.

The CCI stated that the deal includes an investment in Flipkart Pvt Ltd and an arrangement between an affiliate of Alphabet and Flipkart’s subsidiary for specific service provisions.