Competition Commission of India questions Amazon's bid to buy stake in Future Retail
5 years, 2 months ago

Competition Commission of India questions Amazon's bid to buy stake in Future Retail

Firstpost  

The CCI sought justification from Amazon which could potentially delay approval of the deal. India’s antitrust body has sought more information from Amazon.com Inc about its planned acquisition of a stake in India’s Future Retail, sources with knowledge of the matter told Reuters, which could potentially delay the deal. In a notice to Amazon last month, the Competition Commission of India said “in certain overlapping segments and areas of operation of the parties, the combined market share exceeds the threshold specified in the combination regulations”, one of the sources told Reuters. The CCI sought justification from Amazon on why it chose to file a Form I, the source added, which could potentially delay approval of the deal. Amazon’s notification available on the CCI’s website says the company believes the deal is “not likely to cause an appreciable adverse effect on competition” in India.

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History of this topic

Amazon vs Reliance: Future of retail supremacy in India hangs in balance
2 years, 9 months ago

Amazon vs Reliance: Future of retail supremacy in India hangs in balance

India Today  

Amazon and Future group have been locked in a complex legal stand-off for more than a year now. AMAZON TO SUPREME COURT Amazon has apprehended the "disappearance” of assets and sought an interim order from the Supreme Court to ensure the preservation of assets of Future Retail Ltd besides resumption of arbitration over FRL’s merger deal with Reliance Retail. A …

Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute
2 years, 9 months ago

Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute

India Today  

Mukesh Ambani's Reliance Industries and US giant Amazon have been vying to get the upper hand in one of the world's fastest-growing retail markets, which is India. AMAZON-FUTURE DISPUTE AND RELIANCE In 2019, Amazon and Future, number two player in India behind market leader Reliance, became business partners when the US company invested $200 million in a unit of the …

Amazon Plans To File Criminal Case Against Future Over Store Transfers To Reliance, Says Report
2 years, 10 months ago

Amazon Plans To File Criminal Case Against Future Over Store Transfers To Reliance, Says Report

ABP News  

New Delhi: US e-commerce giant Amazon Inc plans to start criminal proceedings against its Indian partner Future Retail this week for allowing transfer of assets to Reliance Industries despite a legal prohibition, quoting sources Reuters reported on Thursday. Amazon and Future Group have been tangled in a legal impasse for over a year that has stalled the Indian firm’s $3.4-billion …

Lenders to Future Retail call for its assets to be put up for auction
2 years, 11 months ago

Lenders to Future Retail call for its assets to be put up for auction

Live Mint  

Lenders to Future Retail, the company being fought over by Reliance Industries and Amazon.com Inc, have told India's Supreme Court that its assets should be put up for auction after it missed payments. "Let it be subjected to an open bid.This is the only solution," Rakesh Dwivedi, a lawyer acting for 30 or so of Future's lenders, told the Supreme …

Banks act against Future Retail for missing payments
2 years, 11 months ago

Banks act against Future Retail for missing payments

Live Mint  

Lenders to India's Future Retail have started classifying loans to the retailer as a "non-performing asset" after the company missed payments to the banks, they told the country's Supreme Court in a filing seen by Reuters. Citing its dispute with Amazon, Future last month challenged its lenders in the top court to avoid facing insolvency proceedings or being classified as …

Decoding the multilayered Amazon-Future-Reliance legal drama
2 years, 11 months ago

Decoding the multilayered Amazon-Future-Reliance legal drama

Hindustan Times  

New Delhi: US-e-commerce giant Amazon and India’s Reliance Industries have been locked in a fierce battle for the future -- almost literally. The Delhi high court Future Group went to the Delhi high court against Amazon, imploring the court to restrain the US-based e-commerce major from writing to Sebi, CCI, and other regulators about SIAC’s order. While the arguments before …

Shares in Future Group firms fall as court dismisses appeal
3 years ago

Shares in Future Group firms fall as court dismisses appeal

Al Jazeera  

Shares in Future Group companies have fallen a day after an Indian court dismissed Future Retail’s appeal to declare arbitration proceedings with now-estranged partner Amazon.com Inc as illegal. Amazon had successfully for months used the terms of its $200m investment in Future in 2019 to block the Kishore Biyani-owned company’s attempt to sell retail assets to Reliance, until the antitrust …

HC junks Future’s plea on arbitration with Amazon
3 years ago

HC junks Future’s plea on arbitration with Amazon

The Hindu  

The Delhi High Court on Tuesday dismissed pleas by Future Group companies to direct the arbitration tribunal adjudicating on Amazon’s objections against their deal with Reliance, to decide on their termination applications first before continuing with the arbitration proceedings. Justice Amit Bansal noted the grievance of the Future Group was that in terms of the December 2021 orders of the …

Amazon challenges ED probe into 2019 deal with Future Group
3 years ago

Amazon challenges ED probe into 2019 deal with Future Group

India Today  

Amazon.com Inc is set to take the Enforcement Directorate to court over an ongoing investigation related to the US e-commerce giant’s 2019 deal with Future Group. On Wednesday, Amazon approached the Delhi High Court with an appeal to quash the ED investigation related to its $200 million investment in Future Coupons Private Limited. In the court filing, Amazon has called …

India’s Future Group’s shares surge on suspension of Amazon deal
3 years ago

India’s Future Group’s shares surge on suspension of Amazon deal

Al Jazeera  

Shares of India’s Future Group companies have surged about 20 percent after the country’s antitrust agency suspended Amazon.com Inc’s 2019 deal with the group, potentially making it easier for Reliance Retail to buy Future’s retail business. The shares soared on Monday after the regulator’s ruling on Friday that the US e-commerce giant suppressed information while seeking regulatory approval two years …

CCI slaps ₹200 crore fine on Amazon, freezes Future deal
3 years ago

CCI slaps ₹200 crore fine on Amazon, freezes Future deal

The Hindu  

The Competition Commission of India on Friday froze its approval given in November 2019 to Amazon’s investment in a Future Group unit on the grounds that the U.S. e-commerce company had suppressed the scope and full details of its investment while seeking regulatory approval. The CCI decision further roils the legal landscape as Amazon seeks to block the Future Group’s …

Amazon-Future Deal: CCI Suspends 2019 Future Coupon Nod, Imposes Rs 200 Cr Penalty on US Retailer
3 years ago

Amazon-Future Deal: CCI Suspends 2019 Future Coupon Nod, Imposes Rs 200 Cr Penalty on US Retailer

News 18  

The Competition Commission of India on Friday suspended Amazon’s 2019 deal with Future Group, a unit of Future Retail Ltd. CCI had mentioned in its order, “it necessary to examine the combination afresh.” “In exercise of the powers conferred under sub-section of Section 45 of the Act, the Commission hereby directs Amazon to give notice in Form II within a …

Amazon asks CCI to revoke Reliance-Future deal approval
3 years, 1 month ago

Amazon asks CCI to revoke Reliance-Future deal approval

Live Mint  

Amazon has asked India's antitrust regulator to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows. The battle between two of the world's richest men, Amazon founder Jeff Bezos and Reliance Industries Ltd boss Mukesh Ambani, marks a …

Amazon seeks to pause antitrust review of 2019 deal with India's Future Group: Report
3 years, 1 month ago

Amazon seeks to pause antitrust review of 2019 deal with India's Future Group: Report

India Today  

Amazon.com Inc has asked India's Supreme Court to pause an expedited review of allegations that the U.S. firm concealed information while seeking antitrust clearance for a 2019 deal with India's Future Group, legal papers seen by Reuters showed. The Competition Commission of India in June accused Amazon of concealing facts and making false submissions when it sought approval for the …

Future Retail Employees Ask SC to Sell Its Retail Assets, Rule Against Amazon
3 years, 1 month ago

Future Retail Employees Ask SC to Sell Its Retail Assets, Rule Against Amazon

News 18  

Employees of India’s Future Retail have asked the Supreme Court to allow the company to sell its retail assets and rule against Amazon.com Inc in an ongoing dispute, citing risks to 27,000 jobs, according to a legal filing seen by Reuters. Future has failed to close its $3.4 billion deal to sell its retail assets to market leader Reliance Industries …

Future discloses new documents to bolster case against Amazon deal
3 years, 1 month ago

Future discloses new documents to bolster case against Amazon deal

Live Mint  

Independent directors at India's Future Retail have disclosed new documents in a letter to the country's antitrust watchdog aiming to bolster their case against Amazon.com Inc as they seek to revoke a 2019 deal between the two companies. A 160-page stock exchange filing on Sunday showed the directors reviewed records related to the 2019 deal between a group unit, Future …

Amazon spends Rs 8,546 cr in legal expenses during 2018-20 to maintain presence in India: Report
3 years, 3 months ago

Amazon spends Rs 8,546 cr in legal expenses during 2018-20 to maintain presence in India: Report

Firstpost  

Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India. US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in …

Future-RIL deal: Amazon flags Supreme Court’s ruling to SEBI
3 years, 4 months ago

Future-RIL deal: Amazon flags Supreme Court’s ruling to SEBI

The Hindu  

Amazon has written to SEBI requesting the regulator to direct stock exchanges to withdraw the ‘Observation Letters’ that were issued related to the proposed ₹24,713-crore Future-Reliance deal. The U.S. e-commerce giant has also urged SEBI to take necessary action to comply with the recent Supreme Court judgment related to the deal. “In light of the directions contained in the Enforcement …

Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance
3 years, 5 months ago

Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance

CNN  

New Delhi CNN Business — India’s top court has handed Amazon a major victory in its fight with Reliance Industries for the country’s growing e-commerce market. On Friday, the Supreme Court of India ruled in favor of the American company’s efforts to stop its rival Reliance from buying Future Retail, a local, cash-strapped retailer. Future Group had raised questions about …

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies
3 years, 6 months ago

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies

The Hindu  

India's antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc's Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The Competition Commission of India initiated a probe in January last year on the basis of a complaint alleging Amazon and Flipkart promoted select sellers …

Top India court halt’s tycoon Mukesh Ambani’s retail deal: Report
3 years, 10 months ago

Top India court halt’s tycoon Mukesh Ambani’s retail deal: Report

Al Jazeera  

The verdict is a win for Amazon which says Future Group’s sale to Ambani’s Reliance Industries violates its contract. India’s Supreme Court has barred a final ruling by a tribunal reviewing Future Group’s $3.4bn sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc, the Reuters news agency reported citing three unidentified sources. US retail …

Amazon-Future tussle: Here's all you need to know
3 years, 11 months ago

Amazon-Future tussle: Here's all you need to know

Hindustan Times  

India's retail giant Kishore Biyani's Future Retail is stuck in a long-standing tussle with the US tech giant Amazon. Amazon has been blocking a deal worth $3.4 billion between Future Group and Reliance Retail alleging that the transaction between the two Indian majors violates the terms of its earlier contract with Future. > Amid the unprecedented challenges of Covid-19, Future …

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani
3 years, 11 months ago

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani

CNN  

CNN Business — Amazon has been handed a major legal victory in its fight to block a multibillion-dollar deal between two of India’s biggest retailers. In August 2019, Amazon invested in a Future Group entity that gave it a roughly 4.8% stake in Future Retail as of September 30 last year, according to securities filings. Amazon argued that the 2019 …

Hearing of Flipkart, Amazon case resumes
3 years, 11 months ago

Hearing of Flipkart, Amazon case resumes

Live Mint  

Karnataka high court on Monday said it will begin daily hearing of the case between the Competition Commission of India and India’s two biggest online retailers Flipkart and Amazon on Wednesday, two people aware of the development said. CCI had approached the high court in December to vacate a stay issued by the court in February 2020 on a probe …

HC issues notice on Amazon’s petition
3 years, 11 months ago

HC issues notice on Amazon’s petition

Live Mint  

The Delhi high court on Wednesday issued notices to Future Retail Ltd and others on Amazon.com Inc.’s appeal against a single-judge order that left it to regulators to decide on Future group’s asset sale to Reliance Industries Ltd but allowed the US retailer to oppose the deal. The court’s 21 December ruling prima facie upheld Future Retail’s board resolution approving …

Battle of billionaires: India regulators to decide Future’s fate
4 years ago

Battle of billionaires: India regulators to decide Future’s fate

Al Jazeera  

If the deal with Reliance goes ahead, it will delay Amazon’s goal of capturing India’s groceries market, which is forecast to be worth $740bn per year by 2024. If the deal with Reliance goes ahead, it will delay Amazon’s goal of capturing India’s massive groceries market that Forrester Research estimates will be worth $740bn a year by 2024. “There have …

Post-CCI nod, Reliance Industries, Future Group stocks see strong demand
4 years, 1 month ago

Post-CCI nod, Reliance Industries, Future Group stocks see strong demand

Live Mint  

Shares of Reliance Industries jumped up to 4 per cent on Monday after the Competition Commission approved the company's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. Besides, Future Retail zoomed 9.95 per cent to ₹79 -- its upper circuit limit, Future Lifestyle Fashions gained 9.99 per cent to ₹90.30 and Future Enterprises Ltd shares rose …

RIL-Future Retail deal gets CCI okay
4 years, 1 month ago

RIL-Future Retail deal gets CCI okay

Live Mint  

The Competition Commission of India on Friday approved Future Retail Ltd’s asset sale to Reliance Industries Ltd, in a setback for Amazon.com Inc., which had approached the anti-trust watchdog to halt the ₹24,700 crore deal. “Commission approves acquisition of retail, wholesale, logistics and warehousing businesses of Future Group by Reliance Retail Ventures and Reliance Retail and Fashion Lifestyle,” CCI said …

CCI approves RIL, Future Retail deal
4 years, 1 month ago

CCI approves RIL, Future Retail deal

Hindustan Times  

The Competition Commission of India on Friday approved Future Retail Ltd’s asset sale to Reliance Industries Ltd, in a setback for Amazon.com Inc., which had approached the anti-trust watchdog to halt the ₹24,700 crore deal. The debt-ridden Future Group had agreed to sell various assets of Future Retail to Reliance for ₹24,713 crore in August. “Commission approves acquisition of retail, …

Competition Commission Clears Reliance's Rs 24,713 Crore Deal with Future Retail, Setback for Amazon
4 years, 1 month ago

Competition Commission Clears Reliance's Rs 24,713 Crore Deal with Future Retail, Setback for Amazon

News 18  

The Competition Commission has approved Reliance’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. In a tweet on Friday, the regulator said it has approved “acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited”. They are Future Enterprises, Future Consumer Ltd, Future …

Amazon May be on the Wrong Side of India’s FDI Rulebook for Multi-brand Retail on Dispute with Future Retail
4 years, 1 month ago

Amazon May be on the Wrong Side of India’s FDI Rulebook for Multi-brand Retail on Dispute with Future Retail

News 18  

Here is a sentence, which sounds innocuous and laced with bureaucratese at first glance, that may well be read and re-read several times and subjected to rigorous legal interpretation in the coming weeks. This sentence is from Clause of Section 5.2.15.4 titled “Multi-brand Retail Trading” of India’s “Consolidated FDI Policy”, an umbrella rulebook that contains micro-details of foreign investment regulations …

Future Retails Vs Amazon: 'Amazon Still Living In Days Of East India Co': Sr. Adv. Harish Salve Argues Before Delhi High Court
4 years, 1 month ago

Future Retails Vs Amazon: 'Amazon Still Living In Days Of East India Co': Sr. Adv. Harish Salve Argues Before Delhi High Court

Live Law  

1400 crores in a Rs. 25000-crore company, one cannot think that without their permission the company should not be allowed to come out of the woods in today's day and age – if one thinks this way, they are probably still living in the days of East India Company', asserted Senior Advocate Harish Salve before the Delhi High Court while …

Amazon Accuses Future of Insider Trading as it Seeks to Block Reliance Deal
4 years, 1 month ago

Amazon Accuses Future of Insider Trading as it Seeks to Block Reliance Deal

News 18  

Amazon.com Inc has asked India's market regulator to investigate Future Retail Ltd for insider trading, a letter seen by Reuters showed, as it seeks to prevent its business partner from becoming part of rival Reliance's empire. The US giant has been pressing the Securities and Exchange Board of India to review Reliance's August deal to buy retail, logistics and other …

Traders Support Future Retail in Battle Against Amazon
4 years, 2 months ago

Traders Support Future Retail in Battle Against Amazon

News 18  

Traders body, CAIT has compared Amazon with East India Company in the colonial era which acquired Indian states one by one and monopolized Indian business. “The recent statement made by Indian origin Future Retail group to go for liquidation as a consequence of a acquisition battle of Amazon reminds us the colonial era when East India Company initiated the process …

Why Amazon and Reliance are fighting for Future Retail in India
4 years, 2 months ago

Why Amazon and Reliance are fighting for Future Retail in India

CNN  

Hong Kong CNN Business — Two of the world’s richest men are duking it out over a brick-and-mortar retail chain on the verge of default. Amazon, the Seattle-based e-commerce firm owned by Jeff Bezos, is fighting a $3.3 billion deal struck between Mukesh Ambani’s Reliance Industries and the Indian retail conglomerate Future Group. Fitch Ratings downgraded Future Retail’s rating two …

Amazon set for face-off with Mukesh Ambani’s RIL for India retail dominance
4 years, 2 months ago

Amazon set for face-off with Mukesh Ambani’s RIL for India retail dominance

Live Mint  

Amazon.com Inc. and Mukesh Ambani’s Reliance Industries Ltd.’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Reliance intends to purchase Future Retail’s assets “without any delay,” the conglomerate’s unit said in a statement late Sunday, after …

Amazon drags Future to Singapore arbitration
4 years, 3 months ago

Amazon drags Future to Singapore arbitration

Live Mint  

Bengaluru/Mumbai: Amazon Inc. has approached the Singapore International Arbitration Centre, claiming that Future Group has violated the contract under which the US-based e-commerce major took a stake in its subsidiary, and is asking for the deal with Reliance Industries Ltd to buy the Indian firm’s retail assets to be halted. Amazon agreed to purchase 49% of one of Future’s unlisted …

Amazon faces new antitrust challenge from Indian online sellers
4 years, 4 months ago

Amazon faces new antitrust challenge from Indian online sellers

The Hindu  

A group of more than 2,000 online sellers has filed an antitrust case against Amazon in India, alleging the U.S. company favours some retailers whose online discounts drive independent vendors out of business, a legal filing seen by Reuters showed. India tightened regulations last year to deter steep discounts, but small sellers still say Amazon uses complex business structures to …

Amazon faces new antitrust challenge from Indian online sellers: Legal documents
4 years, 4 months ago

Amazon faces new antitrust challenge from Indian online sellers: Legal documents

India Today  

A group of more than 2,000 online sellers has filed an antitrust case against Amazon in India, alleging the U.S. company favours some retailers whose online discounts drive independent vendors out of business, a legal filing seen by Reuters showed. India tightened regulations last year to deter steep discounts, but small sellers still say Amazon uses complex business structures to …

Amazon challenges India antitrust probe in court
4 years, 10 months ago

Amazon challenges India antitrust probe in court

The Hindu  

Amazon.com Inc has begun legal action in India to quash an antitrust investigation against the company, saying it could cause “irreparable” loss and damage to its reputation, according to its court filing seen by Reuters. The Bengaluru court is likely to hear Amazon’s petition later this week and the complainant trader group, Delhi Vyapar Mahasangh, has been informed about it, …

CCI Orders Probe Against Amazon & Flipkart For Alleged Violations Of Competition Law [Read Order]
4 years, 11 months ago

CCI Orders Probe Against Amazon & Flipkart For Alleged Violations Of Competition Law [Read Order]

Live Law  

In a set-back to Amazon and Flipkart, the Competition Commission of India on Monday directed the Director General to probe the allegations of violation of Competition Act by these e-commerce giants.The order was passed by the Commission on a prima facie finding that the Amazon and Flipkart were giving undue promotion to some sellers over other smaller sellers.The complaint was …

CCI orders enquiry into business practices of Amazon, Flipkart
4 years, 11 months ago

CCI orders enquiry into business practices of Amazon, Flipkart

The Hindu  

Fair market watchdog Competition Commission of India has ordered an enquiry into the operations of both Amazon and Flipkart on multiple counts, including deep discounts and exclusive tie-up with preferred sellers. In its order, the CCI said that it needs to be investigated whether the alleged exclusive arrangements, deep discounting and preferential listing by Amazon and Flipkart are being used …

Shares of Future group companies zoom after CCI gives nod to Amazon-Future Coupon deal
5 years, 1 month ago

Shares of Future group companies zoom after CCI gives nod to Amazon-Future Coupon deal

Firstpost  

Future Retail surged nearly 18.22 percent to Rs 387.90. New Delhi: Shares of Future Group companies rallied in early trade on Friday after the CCI approved Amazon.com NV Investment Holdings’ proposal to acquire about 49 percent share in Future Coupons. Shares of Future Lifetsyle Fashions rose 5.45 percent to Rs 428.45. The Competition Commission of India on Thursday said it …

Competition Commission gives a go ahead to Amazon to acquire 49 percent in Future Group-owned Future Coupons
5 years, 1 month ago

Competition Commission gives a go ahead to Amazon to acquire 49 percent in Future Group-owned Future Coupons

Firstpost  

As part of a pilot, Amazon Now does deliveries from 18 Future Group-owned Big Bazaar stores in Bangalore, Delhi, and Mumbai. “In addition, the Future Group and Amazon companies will operationalise business partnership agreements to jointly promote and sell FMCG and fashion brands on Amazon platforms,” the source said. “Following the approval, Future Consumer, the FMCG arm of Future Group …

Amazon’s bid to acquire stake in Future Retail faces antitrust hurdle: Sources
5 years, 2 months ago

Amazon’s bid to acquire stake in Future Retail faces antitrust hurdle: Sources

Live Mint  

India's antitrust body has sought more information from Amazon.com Inc about its planned acquisition of a stake in India's Future Retail, sources with knowledge of the matter told Reuters, which could potentially delay the deal. In a notice to Amazon last month, the Competition Commission of India said "in certain overlapping segments and areas of operation of the parties, the …

Amazon deal to help payments side more: Biyani
5 years, 4 months ago

Amazon deal to help payments side more: Biyani

Live Mint  

Mumbai: Future Group founder Kishore Biyani has said global e-commerce giant Amazon's investment in the firm is not just to raise money but also to become a part of the ecosystem. The company recently announced Amazon picking up a full 49% stake in Future Coupons, the promoter entity of Future Retail, with an option to acquire the entire stake later. …

Amazon signs deal to buy stake in Future Retail
5 years, 4 months ago

Amazon signs deal to buy stake in Future Retail

India TV News  

American e-commerce giant Amazon has signed a deal that would give it the option to take a significant stake in Future Retail Ltd, gaining access to physical stores across the world's fastest-growing retail market. The deal would indirectly give Amazon a 3.58 per cent stake in Future Retail Ltd, which runs more than 2,000 stores, including budget department and grocery …

Amazon set to buy a minority take in India's Future Retail which also owns Big Bazaar
5 years, 4 months ago

Amazon set to buy a minority take in India's Future Retail which also owns Big Bazaar

Firstpost  

The companies did not disclose the value of the deal, which gives Amazon a 3.58 percent stake. Amazon.com is set to snag a minority stake in India’s Future Retail, which operates more than 900 stores in India and owns several supermarket brands, including Big Bazaar. Future Retail’s market capitalization currently stands at $2.91 billion, pegging the value of a 3.58 …

Amazon to buy 49% stake in Kishore Biyani-led Future Retail promoter entity, stock dives 5.6%
5 years, 4 months ago

Amazon to buy 49% stake in Kishore Biyani-led Future Retail promoter entity, stock dives 5.6%

Firstpost  

Future Retail shares plunged more than 5 percent after the company announced the sale of 49 percent stake in promoter entity Future Coupons to e-commerce giant Amazon After news reports that Future Retail had entered into a share subscription agreement with Amazon, the company’s shares plunged more than 5 percent after the company announced the sale of 49 percent stake …

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