May 28, 2018 / 11:16 AM / a year ago

Indian traders' group files objection to Walmart-Flipkart deal

MUMBAI, May 28 (Reuters) - The Confederation of All India Traders (CAIT) has filed an objection to Walmart Inc’s $16 billion merger with e-commerce company Flipkart with the country’s competition watchdog, it said on Monday.

U.S. retail giant Walmart said this month that it would pay $16 billion for a roughly 77 percent stake in Flipkart, which CAIT’s filing said would create unfair competition and result in predatory pricing.

The deal is aimed at helping Walmart to compete with in a major growth market, prompting protests from trade and nationalist groups that say small traders will suffer. (Reporting by Abhirup Roy Editing by David Goodman)

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