The Samara Capital-Amazon joint bid to buy More, Aditya Birla Group's supermarket chain, has been approved by the Competition Commission of India (CCI).
CCI had sent a communication to Witzig Advisory Services, the entity where Samara and Amazon will invest, stating that the proposal is "approved".
A senior industry executive said, "A detailed order is expected from CCI soon which may specify certain conditions. But there may not be anything major in that since the ownership and deal structure are not in CCI’s domain directly."
"Issues of ownership and deal structure are under the domain of the Department of Industrial Policy and Promotion (DIPP), which notified the new FDI norms for e-commerce marketplaces last month. Samara-Amazon may still have to modify the deal structure to be compliant with the DIPP notification; otherwise, it can risk itself into legal problems," the executive added.