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1/13, 4:23 PM (Source: TeleTrader)
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Amazon, Flipkart face competition probe in India

Amazon.com and Flipkart, in which Walmart holds an 82% stake, are facing a probe in India for allegedly breaking anti-competition regulations, Competition Commission of India (CCI), New Delhi's anti-trust regulator, announced on Monday. The probe comes after a complaint from a trade group.

CCI noted that it wants to find out if Amazon and Flipkart may have preferred some sellers to others and also if they promoted their own products ahead of those of other vendors. The probe is expected to end within 60 days.

Amazon stocks were 0.20% in the green at 10:26 am ET while Walmart declined 0.30% at 10:06 am ET.

Breaking the News / VP