wordpress blog stats
Connect with us

Hi, what are you looking for?

CCI approves Amazon’s 49% equity stake in Future Coupons, Amazon will now own 3.58% stake in Future Retail

Amazon India
Amazon India

The Competition Commission of India (CCI) has approved Amazon’s proposed acquisition of 49% equity stakes in Future Coupons, which is a promoter entity of Future Retail. Amazon will now own 3.58% stake in Future Retail as Future Coupons owns a 7.3% stake in Future Retail. Future Retail operates 900 stores in India, including 293 Big Bazaar stores. The Economic Times first reported this development.

Future Coupons develops corporate gift cards, loyalty cards, and reward cards for corporate and institutional customers. Future retail had said that Amazon’s stake is mainly an investment in the digital payments space. The deal is sized between Rs 1,500-2,000 crore.

Amazon’s retail plans in India

Amazon is expanding Amazon Now, its hyperlocal platform, into newer cities in India through Future Group’s store network. It will also sell Future Group’s FMCG and fashion private brands through its marketplace in India, the ET report said. The two companies may also allow Amazon Prime and Future Pay customers to avail common benefits, the report said. In August, Amazon had launched Amazon Fresh, its two-hour grocery delivery service for select pincodes in Bangalore.

Amazon’s previous collaborations: Amazon had previously collaborated with a private equity firm Samara Capital to buy stake in supermarket chain ‘More’. This deal was also contested in the CCI, but was eventually cleared. Amazon already owns a stake in Indian departmental store Shopper’s Stop.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

News

It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...

News

Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ