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CCI Nod to Invest in Flipkart

Kumari Sonali

CCI Nod to Invest in Flipkart:

The Competition Commission of India (CCI) has granted approval to Alphabet Inc.’s subsidiary, Shoreline International Holdings LLC, to acquire a stake in Walmart-owned Flipkart Pvt Ltd. This follows Flipkart’s May 2024 funding round, where Alphabet’s Google invested $350 million out of a total $1 billion raised. Walmart, which holds an 85% stake in Flipkart, contributed $600 million. Separately, CCI has also approved MUFG Bank Ltd.’s acquisition of an additional stake in Delhi-based digital lender DMI Finance, raising MUFG’s shareholding to 20%.

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