CCI nod for Walmart-Flipkart deal, traders' body to move court
New Delhi, Aug 8 : Fair trade watchdog Competition Commission of India (CCI) has approved the acquisition of e-commerce major Flipkart by Wal-Mart International Holdings.
However, a traders' body said that it will move the court against the approval.
"@CCI_India approves proposed acquisition of Flipkart Private Limited by Wal-Mart International Holdings, Inc," CCI said in a tweet on its official Twitter handle on Wednesday.
On May 9, global retail giant Walmart Inc announced it was buying 77 per cent equity stake in the country's largest e-tailer Flipkart for $16 billion, subject to regulatory approval in India.
The acquisition of the majority stake makes the $500-billion Walmart the largest shareholder of the Flipkart group and will help accelerate its mission to transform e-commerce through digital technology.
Reacting to the development, the Confederation of All India Traders (CAIT) said that it will move the court against the CCI decision.
"It is most unfortunate that leaving aside the objections raised by CAIT in CCI, the Commission has approved the deal," CAIT Secretary-General Praveen Khandelwal said.
"Without giving any opportunity of hearing to CAIT, the CCI has flayed principle of natural justice. We deeply condemn such an attitude and will certainly move to Higher Court against the decision of CCI."
According to Khandelwal, CAIT has called for an emergency meeting of its governing council on August 19 at Nagpur.
The traders, protesting under CAIT, have denounced the deal arguing that it would create "unfair competition" and demanded that the government scrap it.
On its part, Walmart welcomed the decision and said that it remains committed to contribute to the Indian economy by supporting smallholder farmers, manufacturers, and "our Kirana" customers.
"Our partnership with Flipkart is testament to our continued confidence in our ability to contribute to this market. Flipkart is a prominent player in India with a strong, entrepreneurial leadership team that is a good cultural fit with Walmart," the company said in a statement.
"We believe that the combination of Walmart's global expertise and Flipkart will position us for long-term success and enable us to contribute to the economic growth."
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Boeing 737 catches fire and skids off the runway at a Senegal airport, injuring 10 people
Dakar, May 9: A Boeing 737-300 plane carrying 85 people skidded off a runway at the airport in Senegal's capital, injuring 10 people, according to the transport minister, an airline safety group and footage from a passenger that showed the aircraft on fire.
“Our plane just caught fire,” wrote Malian musician Cheick Siriman Sissoko in a post on Facebook that showed passengers jumping down the emergency slides at night as flames engulfed one side of the aircraft at the airport in Dakar. In the background, people can be heard screaming.
Transport Minister El Malick Ndiaye said the Air Sénégal flight operated by TransAir was headed to Bamako, in neighbouring Mali, late Wednesday with 79 passengers, two pilots and four cabin crew.
The airport reopened on Thursday morning after closing overnight.
The injured were being treated at a hospital, while the others were taken to a hotel to rest. Boeing referred a request for comment to the airlines.
It was the third incident involving a Boeing airplane this week. Also on Thursday, 190 people were safely evacuated from a plane in Turkey after one of its tires burst during landing at a southern airport, Turkey's transportation ministry said.
The company has been under intense pressure since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane.
The Federal Aviation Administration in February gave Boeing 90 days to come up with a plan to fix quality problems and meet safety standards for building planes after the accident.
The incident has raised scrutiny of Boeing to the highest level since two crashes of Boeing 737 Max jets in 2018 and 2019 that killed 346 people.
About a dozen relatives of passengers who died in the second crash have been pushing the US government to revive a criminal fraud charge against the company by determining that Boeing violated terms of a 2021 settlement.
In April, a Boeing whistleblower, Sam Salehpour, testified at a congressional hearing that the company had taken manufacturing shortcuts to turn out 787s as quickly as possible that could lead to jetliners breaking apart.
The Aviation Safety Network, which tracks airline accidents, described the plane as a Boeing 737-38J.
The network published photos of the damaged plane in a grassy field, surrounded by fire suppressant foam, on X, formerly known as Twitter. One engine appeared to have broken apart and a wing was also damaged, according to the photos.
ASN is part of the Flight Safety Foundation, a nonprofit group that aims to promote safe air travel and tracks accidents.
🚨🚨Les faits se sont déroulés à 01h 14 minutes. Le ministre El Malick Ndiaye a ordonné au Bureau d’Enquete et d’Analyse (BEA) d’ouvrir une enquête pour déterminer les causes de l’accident. pic.twitter.com/sJTtfMmH2s
— mcsenegal1 (@McSenegal221) May 9, 2024
Transair Senegal Boeing 737-300 (6V-AJE, built 1994) was seriously damaged when it overran the landing runway at Dakar-Intl Airport(GOBD), Senegal. The left wing and engine caught fire but all 73 passengers were able to evacuate alive. There was unspecified number of injuries.… pic.twitter.com/SysgTSL3b8
— JACDEC (@JacdecNew) May 9, 2024
