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NEW DELHI, Nov 28 (Reuters) – Amazon has requested India’s antitrust regulator to revoke its approval for Future Retail’s $3.4 billion sale of retail belongings to Reliance, saying it was “illegally obtained”, violating an order suspending the deal, a letter seen by Reuters reveals.
The approval for the deal was a “nullity within the eyes of legislation” as an arbitrator’s order was nonetheless in pressure, in accordance with the letter despatched by Amazon.com Inc (AMZN.O) to the Competitors Fee of India (CCI) final week.
The battle between two of the world’s richest males, Amazon founder Jeff Bezos and Reliance Industries Ltd (RELI.NS) boss Mukesh Ambani, marks a contest for preeminence in India’s booming, almost trillion-dollar retail market.
The winner within the battle for Future Retail Ltd (FRTL.NS), India’s second-largest retailer and Amazon’s estranged native accomplice, will get pole place within the race to satisfy the each day wants of greater than a billion folks.
The CCI, Amazon, Future Group and Reliance didn’t reply to requests for remark.
Future has stated the arbitrator’s suspension order was invalid however Indian courts have declined to overturn it.
If the regulator agrees with the beforehand unreported letter, it might be a significant setback for oil-to-telecom conglomerate Reliance.
Amazon gained an injunction in opposition to the deal from a Singapore arbitrator final yr, alleging Future had violated contracts that prevented it from promoting the belongings to entities together with Reliance.
However the CCI later cleared the deal.
Future misled the CCI and continued to hunt approval for the deal, Amazon stated within the letter dated Wednesday, calling the injunction a “brazen try and subvert the rule of legislation”.
Amazon requested for a private listening to from the CCI to make its case.
The letter comes as Amazon can be battling allegations that it misrepresented details and hid data whereas in search of antitrust clearance for a 2019 take care of Future Group.
Amazon has to this point efficiently used this deal’s contracts to dam Future’s take care of Reliance.
Reporting by Aditya Kalra and Abhirup Roy in New Delhi; Extra reporting by Zeba Siddiqui; Modifying by William Mallard
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