Indian regulator clears Walmart's $16 billion acquisition of Flipkart
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NEW DELHI (Reuters) - India's anti-trust regulator has approved U.S. retail giant Walmart Inc's $16 billion (12.4 billion pounds) acquisition of online marketplace Flipkart, beefing up the competition to Amazon.com Inc in the fast growing e-commerce market.Bentonville, Arkansas-based Walmart announced in May it was acquiring about 77 percent of Flipkart for roughly $16 billion in the biggest deal for India's e-commerce sector, which Morgan Stanley estimates will grow close to an annual $200..