Reliance to buy stake in Future Group!

[marvel44]

Reliance Industries Ltd. is closing in on a deal that would see it acquire stakes in some units of Future Group, people familiar with the matter said, a move that would bolster the e-commerce ambitions of the conglomerate and its billionaire Chairman Mukesh Ambani.

An agreement between Ambani’s Reliance and Future, which already has a partnership with Amazon.com Inc., could be announced as early as next month, the people said, asking not to be identified as the information isn’t public. Though unit Future Retail Ltd. has attracted suitors, including Amazon, Reliance’s offer to buy into the group’s holding company is likely to sway the outcome in its favor, the people said.

Ambani Nears Deal to Buy Stake in Amazon’s India Partner

 

[Detective Conan]

I don't think it would be good in the long run , Reliance industries is selling its company stake to foreign companies to reduce debt - i don't want them to end up doing same to future group in future after acquiring significant shares. hope future group doesn't end up selling more share to reliance group - don't want it to lead indirectly to monopoly in retail in future .

 

[marvel44]

Reliance Industries Ltd (RIL) is close to buying Future Group’s retail assets for ₹24,000-27,000 crore to bolster its position in India’s retail segment, according to two people familiar with the details of the deal.

Five listed entities, including Future Retail Ltd, Future Consumer, Future Lifestyle Fashions, Future Supply Chain and Future Market Networks, will be merged into Future Enterprises Ltd (FEL) before the sale of the assets.

RIL may buy Future Group’s retail biz for ₹27,000 crore

 

[piinku1]

So no more big bazar,pantaloon, brand factory, central etc.

 

[iDJ]

https://twitter.com/x/status/1320638954291380224

Source

 

[Jr MGR]

https://twitter.com/x/status/1356626085040041984

Source

 

[Bapun]

The Supreme Court has stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., effectively halting the deal and marking another victory for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector.

SC halts Future Group's Reliance deal on Amazon plea, RIL shares down 2%

 

[Jr MGR]

https://twitter.com/x/status/1423512323516354564

Source

 

[greylala91]

Future retail stocks tank 10% while RIL stocks down 2% following SC verdict

 

[Bapun]

An Indian court ruled on Tuesday that the country's antitrust body has two weeks to decide whether Amazon misled authorities while seeking approval for a 2019 deal with India's Future Group, a group of Indian retailers said.

India court orders antitrust body to rule on Amazon-Future dispute within two weeks

An Indian court ruled on Tuesday that the country's antitrust body has two weeks to decide whether Amazon misled authorities while seeking approval for a 2019 deal with India's Future Group, a group of Indian retailers said.

www.reuters.com