Walmart Mexico and Cornershop deal falls

Source: reuters, Friday, Jun 21, 2019

Walmex, Walmart’s Mexico division, and delivery app Cornershop have ditched plans to link up after Mexican antitrust officials blocked the deal earlier this month. The agreement announced in September of last year was blocked by the Federal Economic Competition Commission (Cofece) of Mexico, arguing that the retailer could not guarantee a uniform playing field for its rivals. Walmart had struck a deal to buy the popular app for USD225 million in a bid to boost its ecommerce ambitions in Mexico.