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Amazon's planned acquisition of Cloudtail cleared by Indian antitrust watchdog

By Freny Patel ( March 9, 2022, 22:59 GMT | Insight) -- Amazon’s plan to acquire the remaining stake in Prione Business Services, which owns Cloudtail India, has been cleared by the Indian competition authority, although concerns remain over whether the deal could violate India's foreign direct investment laws. The Competition Commission of India tweeted on Wednesday that it had approved the acquisition, without giving any further explanation. Cloudtail is the biggest seller on Amazon's e-commerce platform and a key national trade association had pleaded with the regulator to block or delay the deal. Amazon’s plan to acquire the remaining stake in Prione Business Services, which owns Cloudtail India, has been cleared by the Indian competition authority, although concerns remain over whether the deal could violate India's foreign direct investment laws....

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