CCI Approves Alphabet and MUFG Investments in Flipkart and DMI Finance
| Key Points | Details |
|---|---|
| Why in News | CCI approved Alphabet's subsidiary, Shoreline International Holdings LLC, to invest in Flipkart. |
| Flipkart raised $1 billion in May 2024, including $350 million from Alphabet's Google. | |
| MUFG Bank Ltd. received CCI approval to increase its stake in DMI Finance to 20%. | |
| Alphabet's Subsidiary | Shoreline International Holdings LLC is wholly owned by Alphabet Inc. and acts as a holding company. |
| Flipkart Ownership | 85% owned by Walmart Group. |
| Flipkart Funding Round | Total funding of $1 billion in May 2024: Alphabet's Google invested $350 million, Walmart contributed $600 million. |
| MUFG Bank | Headquartered in Tokyo, Japan; wholly owned by Mitsubishi UFJ Financial Group. |
| DMI Finance Investment | MUFG invested ₹2,798.8 crore to raise its stake in DMI Finance to 20%. |
| DMI Finance Valuation | Valued at $3 billion, MUFG becomes the second-largest shareholder after DMI Ltd, Mauritius. |