With India becoming the linchpin for global growth for retailers and tech companies, Indian conglomerate Reliance Industries is reportedly ready to sell to Amazon (NASDAQ: AMZN) a 40% stake in its Reliance Retail Ventures that would be worth as much as $20 billion. The two have been in negotiations since this summer, when it was reported Amazon was interested in a 10% piece of the business. Reliance Retail runs supermarkets, India's largest consumer electronics chain store, a cash-and-carry wholesaler, fast-fashion outlets, and an online grocery store called JioMart that both Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) and Facebook (NASDAQ: FB) have invested in. Read More...
Amazon May Take a $20 Billion Stake in India’s Reliance Retail
With India becoming the linchpin for global growth for retailers and tech companies, Indian conglomerate Reliance Industries is reportedly ready to sell to Amazon (NASDAQ: AMZN) a 40% stake in its Reliance Retail Ventures that would be worth as much as $20 billion. The two have been in negotiations since this summer, when it was reported Amazon was interested in a 10% piece of the business. Reliance Retail runs supermarkets, India’s largest consumer electronics chain store, a cash-and-carry wholesaler, fast-fashion outlets, and an online grocery store called JioMart that both Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) and Facebook (NASDAQ: FB) have invested in.
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