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Indian trader group files petition against Walmart-Flipkart deal

The Confederation of All India Traders filed a petition with the Competition Commission of India to protest Walmart Inc.'s $16 billion takeover of Flipkart Online Services Pvt. Ltd., Reuters reported May 28, citing a statement from the trader group.

The Confederation of All India Traders said the deal would create unfair competition and result in predatory pricing, according to the report.

However, people with knowledge of the deal told Reuters that the petition will likely not affect the regulator's approval of the deal.