May 28, 2018 / 11:17 AM / a month 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 Amazon.com 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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