Zee agrees to shut channel to ease competition concerns over Sony deal.The structural remedy may avert CCI ordering a probe of the impact of the merger, which may delay approval
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The proposed combination involves the acquisition of certain power assets -- Essar Power Hazira Ltd and Gandhar Hazira Transmission Ltd. The port assets include Hazira Cargo Terminals Ltd, Ibrox Aviation & Trading Pvt Ltd, Essar Bulk Terminal Ltd, Essar Bulk Terminal Paradip Ltd, and Essar Vizag Terminals Ltd.
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In August, Adani Power said it will acquire DB Power Ltd, which owns and operates a 2x600 MW thermal power plant at Janjgir-Champa district in Chhatti..
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New Delhi [India], September 29 (ANI): The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Limited. The proposed combination involves the acquisition of certain assets: (a) Power Assets (Essar Power Hazira Limited (EPHL), Gandhar Hazira Transmission Limited (GHTL)); (b) Port Assets (Hazira Cargo Terminals Limited (HCTL), Ib
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New Delhi [India], September 29 (ANI): The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Limited. The proposed combination involves the acquisition of certain assets: (a) Power Assets (Essar Power Hazira Limited (EPHL), Gandhar Hazira Transmission Limited (GHTL)); (b) Port […]
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The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Limited.
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Facebook India, the Indian subsidiary of US-based Facebook Inc (now known as Meta Platforms), argued that the CCI has clubbed it in its ongoing investigation against Facebook Inc and WhatsApp even though it has not formed any prima facie opinion against it.
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"With all due respect, you suddenly wake up now and challenge the order. Enough is enough. There has to be some end to luxury to litigate," the high court said and dismissed the plea.
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New Delhi: The Delhi High Court Wednesday dismissed a plea by Facebook India challenging the probe ordered by the Competition Commission of India (CCI) into WhatsApp’s updated privacy policy of 2021. Justice Yashwant Varma rejected the plea saying there has to be some end to the “luxury to litigate”. Facebook India approached the single judge … Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
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Farmland has been in the news a lot lately. Bill Gates, for one, saw food shortages coming years ago . His foresight explains his rampant buying of American farmland. His purchases have been met with plenty of controversy and backlash — as well as scathing reviews from Russell Brand. Gates knows what he’s doing, and his peers mimic his strategy. Gates’ $30 billion investment firm Cascade Investment LLC handles his investments, which include companies like United Parcel Service Inc. , Ecolab Inc. and Crown Castle . One of Gates’ most notable investments is his heavy investment in Berkshire Hathaway , whose CEO is none other than fellow farmland aficionado and billionaire, Warren Buffett. While Buffett owns a family farm in Illinois, Gates’ investments have been next level. Gates owns around 240,000 acres of tillable farmland in the U.S. Smart. Full story available on Benzinga.com
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In India, where Google has an overwhelming market share of the mobile operating system and, hence, the distribution platform for apps, the company''s conduct has been investigated by the director general of the Competition Commission of India (CCI), and has been found leading to denial of market access.
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Google India Public Policy Head Archana Gulati is said to have resigned from the company within five months of joining the company. The company currently faces two antitrust cases in the country, and the antitrust watchdog Competition Commission of India is looking into Google''s business conduct in the smart TVs market, its Android operating system, as well as its in-app payments system. The CCI is said to be close to announcing its decision in at least two antitrust cases against the company.
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The additional solicitor general (ASG), on behalf of CCI, informed the court that its undertaking submitted on 19 September regarding not taking any coercive action against the broadcasters would continue till 26 September
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On CNBC’s "Mad Money Lightning Round," Jim Cramer said he wants to buy Moderna, Inc. (NASDAQ: MRNA ). "I know it can go lower, but I think it’s a really well-run company," he added. When asked about Crown Castle Inc. (NYSE: CCI ), he said, "I say, keep your powder dry." The "Mad Money" host … Full story available on Benzinga.com
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This approval comes after Reliance Industries and Viacom18 announced their strategic partnership in April with BTS to form one of the largest TV and digital streaming companies in the country.
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Crown Castle Inc. found using ticker (CCI) have now 18 analysts covering the stock. The analyst consensus points to a rating of ''Buy''. The range between the high target price and low target price is between 230 and 162 calculating the mean target price we have 196.5. Given that the stocks previous close was at 163.22 this is indicating there is a potential upside of 20.4%. The 50 day MA is 174.52 and the 200 moving average now moves to 180.27. The market cap for the company is $70,767m. Find out more information at: https://www.crowncastle.com [stock_market_widget type="chart" template="basic" color="green" assets="CCI" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $85,196m based on the market concensus. Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.
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The Competition Commission of India (CCI) has approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In a…
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Under the partnership, Reliance''s popular Jio Cinema OTT app will be transferred to Viacom18.
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Fair-trade regulator Competition Commission of India (CCI) on Monday approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In a tweet on Monday the CCI said it has approved amalgamation of the Jio Cinema OTT platform with Viacom18 Media, following an investment by BTS Investment and Reliance Projects & Property Management Services. In April, Reliance Industries Ltd (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India. Under the partnership, Reliance''s popular Jio Cinema OTT app will be transferred to Viacom18. Bodhi Tree Systems (BTS) is an investment venture firm of James Murdoch''s Lupa Systems and ex-chairman of Star and Disney India Uday …
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In the current trading session, Crown Castle Inc.’s (CCI) stock is trading at the price of $162.61, a gain of 0.62% over last night’s close. So, the stock is trading at a price that is -22.52% less than its 52-week high of $209.87 and 5.80% better than its 52-week low of $153.70. Based on the […]
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In April, the High Court had restrained the CCI from passing any orders against the petitioners until further orders in a complaint filed by the Asianet Digital Network Private Limited (ADNPL).
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However, they had been denied access to the market even in these states and faced the same resistance in other regions due to coercive action taken by Asian Paints against the dealers.
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Crown Castle International Corp. (NYSE:NYSE:CCI) Goldman Sachs 2022 Communacopia + Technology Conference September 15, 2022 12:15 PM ET Company Participants Jay Brown - Chief Executive…
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The benchmark real estate investment trust (REIT) exchange-traded funds (ETFs) sold off Tuesday along with most of the rest of the stock market after the consumer price index (CPI) came in higher than expected. The Real Estate Select Sector SPDR Fun d (NYSEARCA: XLRE) tanked by 3.80%. The iShares U.S. Real Estate ETF (NYSEARCA: IYR) got hit by 3.70%. The S&P 500 dropped by 4.32%. and the Nasdaq Composite Index slipped by 5.16%. Relatively speaking, the REIT funds outperformed the broader indexes. Still, it’s unpleasant for an investor to hold securities that have dropped significantly. The Real Estate Select Sector SPDR fund consists of 34 positions in all. Top holdings include American Tower Corp. (NYSE: AMT ), Prologis Inc. (NYSE: PLD ) and Crown Castle Inc. (NYSE: CCI ). Here is the daily price chart: Despite the heaviness of the selling, … Full story available on Benzinga.com
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Shares of multiplex chains PVR and INOX Leisure defied the broader market trend and settled in the positive territory on Wednesday after the Competition Commission rejected the complaint against proposed PVR-INOX deal. The rise in shares came a day after the Competition Commission of India (CCI) rejected a complaint against the proposed merger of PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe. Shares of PVR opened on a bullish note at Rs 1,891.10 and hovered in the range of Rs 1,886.75 to Rs 1,974.75 during the trading session on BSE. It finally closed at Rs 1,929.45, up 0.99 per cent over its last close. On NSE, it opened at Rs 1,905 and settled at Rs 1,927.00, registering a rise of 0.94 per cent over its Tuesday''s closing level. A similar trend was seen on the INOX Leisure counter as well, where the stock opened at Rs 511 and oscillated between Rs 511.00 and Rs 550.40 during the trading session on ..
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CCI on Tuesday rejected a complaint against the proposed merger of multiplex chains PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe
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Rejecting the merger, the CCI said that apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe.
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The Competition Commission of India (CCI) on Tuesday rejected a complaint against the proposed merger of multiplex chains PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe. The watchdog''s order has come on a complaint filed against the proposed merger that would create the country''s largest multiplex chain with a network of more than 1,500 screens. On March 27, PVR and INOX Leisure announced the merger. However, the entities were not required to seek CCI approval for the deal as it was below the regulator''s threshold levels. Under the competition law, deals beyond certain thresholds require clearance from the regulator. In a seven-page order, the regulator said it was of the view that apprehension of likelihood of AAEC (Appreciable Adverse Effect on Competition) by an entity which is yet to take form cannot be a subject matter of inquiry/investigation under Section 3 or 4 of the Competition Act. Section
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The Competition Commission of India (CCI) on Tuesday rejected a complaint against the proposed merger of multiplex chains PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe. The watchdog''s order has come on a complaint filed against the proposed merger that would create the country''s largest multiplex chain with a network of more than 1,500 screens. On March 27, PVR and INOX Leisure announced the merger. However, the entities were not required to seek CCI approval for the deal as it was below the regulator''s threshold levels. Under the competition law, deals beyond certain thresholds require clearance from the regulator. In a seven-page order, the regulator said it was of the view that apprehension of likelihood of AAEC (Appreciable Adverse Effect on Competition) by an entity which is yet to take form cannot be a subject matter of inquiry/investigation under Section 3 or 4 of the Competition Act. Section 3 pertains to anti-competitive agreements and Section 4 relates to abuse of dominant position.
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NEW DELHI: A unit of Sony Group and India’s Zee Entertainment have proposed offering concessions such as pricing discounts to help ease concerns of the country’s antitrust regulator over their merger, which will create a $10-billion TV behemoth, two sources told Reuters. The concessions are a bid to iron out antitrust worries of the Competition Commission of India (CCI), which in an Aug. 3 notice warned the companies of further scrutiny, saying their “humongous market position” would allow them to enjoy “un-paralleled bargaining power” with 92 channels in India’s massive media and entertainment market. In particular, the CCI was concerned over how big an impact on competition the merged entity would have in terms of advertising and channel pricing, particularly in the popular Hindi language segment. Legal experts and former CCI officials said such scrutiny was set to delay the deal approval process. Last week, Sony-Zee submitted “voluntary remedies” to the deal in writing to assuage the watchdog’s concerns, though that did not include structural changes such as the sale of certain channels to reduce the threat of competition, said the two sources, who declined to be named due to confidentiality concerns.
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In particular, the CCI was concerned over how big an impact on competition the merged entity would have in terms of advertising and channel pricing, particularly in the popular Hindi language segment
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Firms propose pricing concessions to CCI, Sony-Zee not proposing structural changes for now, say sources
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In its report dated September 8, the Competition Commission of India (CCI) said it probed allegations of anticompetitive practices against the decorative paints market leader. Upon investigation, it concluded that the actions of Asian Paints were “based on objective criteria and uniformly applicable practice of Asian Paints to protect its business interest.”
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True customer protection is not just ensuring savers and investors get their money back, but also providing them with more choices, greater transparency and market integrity.
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Billionaire Mukesh Ambani''s Reliance Industries Ltd has acquired polyester chips and yarn manufacturer Shubhalakshmi Polyesters Ltd for Rs 1,592 crore, the company said in a stock exchange filing. "Reliance Petroleum Retail Ltd (under name change to ''Reliance Polyester Ltd''), a wholly owned subsidiary of the company, today executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters Ltd and Shubhlaxmi Polytex Ltd for cash consideration of Rs 1,522 crore and Rs 70 crore respectively, aggregating to Rs 1,592 crore by way of slump sale on a going concern basis," the firm said. The deal is subject to approval of the Competitiorn Commission of India (CCI) and the respective lenders of SPL and SPTex. The acquisition will strengthen the textile manufacturing business of Reliance. SPL produces polyester fibre, yarns and textile-grade chips through direct polymerisation as well as extruder spinning with value addition through texturising. It has a continuous …
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T/CCI''s Additional $20M Investment will Establish EV Innovation Hub Including a Groundbreaking Climatic Center for Innovation and Research DECATUR, Ill. , Sept. 9, 2022 /PRNewswire-PRWeb/ -- T/CCI Manufacturing, a global leader for compressor technology, has received Illinois'' first Reimagining Electric Vehicle ("REV Illinois") Tax Incentive package established by Governor J.B. Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO). To further the state''s goal of developing a world-leading Electric Vehicle Innovation Cluster, T/CCI is being awarded the first REV Illinois tax credit to support significant efforts in component manufacturing, innovation, and workforce development. T/CCI will invest over $20 million to retool its Decatur, Illinois facility to transition to electric compressor manufacturing, which will create more than 50 new jobs, while retaining 103 positions of its current workforce for a minimum total of 150 positions. As part of the larger incentive package, the State of Illinois has granted $15.3 million to Richland Community College and $6 million to the City of Decatur in capital grants to create an EV Innovation Cluster at T/CCI''s global headquarters in Illinois . "This is a significant moment for T/CCI, the City of Decatur and the State of Illinois , as we embark on new programs to transition our industry toward widespread electrification," said Richard Demirjian , President of T/CCI Manufacturing. "T/CCI is recognized in the industry as a leader in compressor technology, already having developed the largest range of EV compressors in the market.
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The Competition Commission of India (CCI) on Friday proposed a set of self-regulatory measures for cab aggregation services with respect to surge pricing.According to various measures recommended by CCI, cab aggregators should provide customers with general description of various components of total fare with clear mention of the surge component in the invoice. Also, in case of rude cancellation, drivers should be notified in a transparent manner what portion of cancellation charge is taken by the cab aggregator, and what portion is passed on the drivers.These recommendations were based on a market study conducted by CCI into regulations pertaining to cab aggregation industry where companies such as Ola and Uber are dominant players. However, these measures are more in terms of a guidance."This advisory is being issued based on the observations and recommendations of the study in the Cab Aggregators (CAs) market in India and the mandate of the Commission, inter alia, to ensure fair competition and for overall a well-functioning ecosystem," said CCI in an official release. "While any anti-competitive conduct of CAs may attract enforcement action, the CAs are advised to adopt self-regulatory measures to address information asymmetry and transparency concerns,"Another key recommendation put forth by CCI is regarding preferential access to certain cabs.
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JSW Paints, a unit of the steel-to-cement JSW Group, is a recent entrant into the decorative paints market where Asian Paints holds about 40% share. The company had alleged in 2020 that Asian Paints was using its dominant position in the market to block its entry into the states of Karnataka, Telangana and Tamil Nadu.
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JSW Paints also told CCI that Asian Paints allegedly also pressurised enterprises that provided infrastructure facilities like warehouses to JSW Paints to not stock products of JSW Paints
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Crown Castle Inc. (NYSE:NYSE:CCI) 2022 Bank of America Media, Communications & Entertainment Conference September 08, 2022 12:40 PM ET Company Participants Dan Schlanger - CFO…
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Cupertino (US), September 8 Apple''s latest line-up of iPhones will boast better cameras, faster processors, and a longer lasting battery — all at the same prices as last year''s models, despite inflationary pressure that has driven up the cost of many other everyday items. That pricing decision, revealed Wednesday during Apple''s first in-person product event in three years, came as a mild surprise. Many analysts predicted Apple would ask its devout fans to pay as much as 15% more to help offset rising costs for many components. The hoopla surrounding Apple''s new iPhone 14 models is part of a post-Labor Day ritual the company has staged annually for more than a decade. Wednesday''s event was held on the company''s Cupertino, California, campus at a theater named after company co-founder Steve Jobs. After Apple CEO Tim Cook strolled out on stage, most of the event consisted of pre-recorded video presentation that the company honed during previous events staged during the pandemic. For several years, Apple''s new iPhones have mostly featured incremental upgrades to cameras and battery life, and this year''s models were no exception.
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Punit Goenka’s triumphant coup in securing ICC cricket’s TV rights was eclipsed
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The order comes close on the heels of CCI''s observation that the $10-bn merger could hurt competition, and that greater scrutiny of the deal was needed
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Amazon.com NV Investment Holdings LLC (Amazon) has approached the Supreme Court assailing the order of the National Company Law Appellate Tribunal (NCLAT), which rejected Amazon''s plea challenging…
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The proposed introduction of a settlement and commitment framework and deal value threshold for M&A notification under the competition law will enhance the ease of doing business, CUTS International said on Tuesday. Advocacy group CUTS welcomed the introduction of a framework for settlement and commitment in the law, improving the leniency framework, introduction of limitation, introduction of deal value threshold for M&A notification, and recognition of hub and spoke cartels etc in the Competition (Amendment) Bill, 2022. "All these are likely to reduce caseload on the Competition Commission of India (CCI) as well as enhance ease of doing business," CUTS said in its comments on the Competition (Amendment) Bill, 2022, submitted to the Parliament Standing Committee on Finance. However, there are certain provisions of the Bill that may need reconsideration, it added. The Competition (Amendment) Bill proposed that the CCI shall not entertain information (or reference) unless it is
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Crown Castle Inc. found using ticker (CCI) have now 18 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The target price ranges between 230 and 162 with a mean TP of 196.61. With the stocks previous close at 172 this is indicating there is a potential upside of 14.3%. There is a 50 day moving average of 174.9 and the 200 day MA is 180.98. The market capitalisation for the company is $72,647m. Company Website: https://www.crowncastle.com [stock_market_widget type="chart" template="basic" color="green" assets="CCI" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $83,041m based on the market concensus. Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.
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The Competition Commission of India (CCI) has cleared PayU’s $4.7 billion acquisition of online payments firm BillDesk, the antitrust regulator said in a tweet on Monday evening. This comes after a year-long wait for the Prosus-owned PayU which has had to answer several questions from the regulator since the deal was officially announced in August 2021.
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Commission approves acquisition of 100% of the equity share capital of IndiaIdeas.com (BillDesk) by PayU Payments, the competition watchdog tweeted on Monday
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The deal, pegged as the second-largest buyout in the Indian internet sector after Walmart’s $16 billion acquisition of ecommerce company Flipkart in 2018, involves the merger of the payment gateway business of two of the country’s largest players.
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The deal is slated to become the second largest acquisition in the Indian digital space, after Walmart''s $16-bn buyout of e-commerce behemoth Flipkart in 2018
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