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Amazon-Future Deal Suspended, Rs. 200 Crore Fine Slapped by Competition Commission of India

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Amazon-Future Deal Suspended, Rs. 200 Crore Fine Slapped by Competition Commission of India

The Indian antitrust agency on Friday suspended Amazon’s 2019 transaction with Future Group, which may weaken the US e-commerce giant’s attempt to block the sale of Future’s retail assets to the Indian market leader.

The regulator ruled that the U.S. company had withheld information two years ago when seeking regulatory approval to invest in Indian retailer Future Group.

The ruling of the Competition Commission of India (CCI) may have a profound impact on the legal dispute between Amazon and its now separated partner Future. Amazon has successfully used the terms of its US$200 million (approximately 15 billion rupees) investment in Future for several months to prevent the Indian retailer from paying US$3.4 billion (approximately 25,950 crore) for the price in 2019 Sale of retail assets to Reliance Industries.

The regulator’s 57-page order stated that it believed it was “necessary to review the merger (transaction)” and added that its approval starting in 2019 “will be temporarily shelved”.

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The CCI order stated that Amazon “suppressed the actual scope of the transaction” and made “false and incorrect statements” when seeking approval. “The approval was suspended. This is absolutely unprecedented,” said Shweta Dubey, a partner at an Indian law firm. SD Partners, former CCI official.

“The order seems to have found new powers for CCI to temporarily shelve the merger approval,” she added.

People familiar with the matter said that with the suspension of antitrust approvals for the Future deal in 2019, this may weaken Amazon’s legal status and retail ambitions, while making it easier for the country’s largest retailer, Reliance, to acquire Future, the second largest company.

Complete News Source : Gadgets360

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Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

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Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

Tom Holland, last seen in Apple TV show The Crowded Room last year, has signed his next with Academy Award-winning filmmaker Christopher Nolan.

Tom Holland is going to have a very busy 2025. As per The Hollywood Reporter, the actor has signed Christopher Nolan’s next, which he will juggle the filming of with that of the long-awaited Spider-Man 4. (Also Read – Tom Holland shares why he left alcohol behind: ‘Struggling without booze…’)

Tom signs Nolan’s next

This will mark the first collaboration between Tom and Christopher. While details of his next directorial aren’t known yet, it’s most likely not to have a contemporary setting. It’ll be either set in the past like, his previous film Oppenheimer (2023), or in the future like Interstellar (2014). Matt Damon, who has worked with Christopher in both, has also come on board his next.

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Christopher’s next will be co-produced by him and his wife Emma Thomas’ banner Syncopy Inc and Universal Pictures, as the two production houses will team up after the Academy Award-winning blockbuster Oppenheimer last year. Prior to Oppenheimer, Christopher collaborated mostly with Warner Bros before having a fallout post the debacle of Tenet (2020).

Warner Bros then went on to produce Greta Gerwig’s musical satire Barbie, which clashed with Oppenheimer at the box office and even outperformed it globally. Warner Bros offered Christopher a cheque for the fees he waived off for helming Tenet during the pandemic. While Christopher graciously accepted the belated remuneration, he still went on to pitch his next to Warner Bros.

Tom’s busy schedule

Tom didn’t have any release this year. His last outing was Todd Graff’s psychological thriller show The Crowded Room on Apple TV last year. He’ll juggle the filming of Christopher Nolan’s next and Spider-Man 4 in 2025. Tom has been playing the superhero ever since Russo Brothers’ 2016 blockbuster Captain America: Civil War. He’s slipped into the Peter Parker shoes post that for three standalone films and two Avengers movies. Spider-Man 4 will be helmed by Shang-Chi and the Legend of the Ten Rings director Destin Daniel Cretton.

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As Tom’s girlfriend and co-star Zendaya will be busy filming Spider-Man 4 in 2025, she’ll reprise her role of Chani in Denis Villeneuve’s sci-fi spectacle Dune 3 only in 2026. Meanwhile, Tom is also likely to make an appearance as Spider-Man in Russo Brothers’ Avengers: Doomsday, which will go on floors in the spring of 2025.

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