Flipkart-eBay India Merger Deal in News

2019 ias preliminary exam test series

Flipkart’s acquisition of eBay India has received approval from the Competition Commission of India.

The transaction relates to the acquisition of 100 per cent share capital of eBay India by Bangalore based e-commerce firm Flipkart.

eBay will invest USD 500 million in Flipkart as the two firms will merge their operations in the country.

As part of the deal, Flipkart will own and operate eBay’s business in India.

Current Affairs for IAS Exam