Big Bazaar owner's shares surge 18% as regulator approves Amazon investment

Future Retail's shares surged as much as 18% on Friday after the Competition Commission of India (CCI) approved a deal that would give Amazon a 3.58% stake in the operator of Big Bazaar. The competition regulator said it had approved US e-commerce giant's purchase of a 49% stake in Future Coupons, an entity that owns about 7.3% of Future Retail.