India's antitrust body suspends Amazon's 2019 deal with Future citing suppression of information
India's antitrust body on Friday suspended Amazon.com's 2019 deal with Future Group following a review of allegations that the US e-commerce giant had concealed information while seeking regulatory approval.
The unprecedented step taken by the Competition Commission of India (CCI) could have far-reaching consequences on Amazon's legal battles with now estranged partner Future. The US firm has for months successfully used the terms of its toehold $200 million investment in 2019 to block Future's attempt to sell retail assets to Reliance Industries for $3.4 billion.
In a 57-page order, the CCI said it considers "it necessary to examine the combination (deal) afresh," adding its approval from 2019 shall "shall remain in abeyance" until then.
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Amazon had "suppressed the actual scope" of the deal and had made "false and incorrect statements" while seeking approvals, the CCI order added.
