Mexican officials blocked Walmart Inc's deal to buy delivery app Cornershop...
MEXICO CITY - Mexican officials blocked Walmart Inc’s deal to buy delivery app Cornershop because Walmart could not guarantee a level playing field for rival retailers, whose customers use the app to order groceries and other goods, according to an official document and an interview with the top competition regulator this week.
After months of analysis, Mexico’s Federal Economic Competition Commission last week opposed the deal, saying Walmart and Cornershop could “displace” competitors. “It is not clear to the commission that there would be independence between the Cornershop MX business and the interests of Walmart,” the document says. “Walmart has incentives to favor its supermarkets and price clubs or bestow unfavorable treatment to its competitors.”
The threat of Amazon’s encroaching on Walmart’s territory began to loom larger in Mexico last year, when the online powerhouse launched deliveries of non-perishable groceries like beer and coffee.
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