Amazon buys the Indian company Prione

The Indian antitrust watchdog has approved Amazon's offer to buy all shares of Prione, which operates one of the largest sellers on the e-commerce platform. Cloudtail is one of the largest sellers on Amazon in India and is a subsidiary of Prione. This acquisition approval paved the way for the American giant to continue operating Cloudtail, one of India's largest vendors. Amazon previously held a 49 percent stake in Prione. But Amazon had to reduce that to 24 percent to comply with a local law that prohibits e-commerce firms from owning direct or indirect ownership of businesses selling in their markets. If Cloudtail is now fully owned by Amazon and allowed to operate in India, how it will violate local laws will be up for debate in the coming days. As it will be remembered, the Competition Commission of India launched an investigation in 2020 to evaluate whether companies were promoting certain vendors on e-commerce platforms and using business practices that prevented competition.