Samara-Amazon acquisition of More retail chain gets CCI nod

Competition Commission of India (CCI) has approved the acquisition of billionaire Kumar Mangalam Birla's supermarket chain 'More' by Amazon and private equity fund Samara Capital. CCI has done due diligence from an impact-on-competition perspective and Amazon and Samara will have to modify the deal, made last September for around ₹4,200 crore, to comply with revised FDI norms, as per reports.