Shares of India's Future Group companies surged 20% on Monday after the country's antitrust agency suspended Amazon.com's 2019 deal with the group in a potential blow to the U.S. e-commerce giant's attempts to block the sale of Future's retail assets to Reliance. Amazon has for months successfully used the terms of its $200 million investment in Future to block the Indian retailer's attempt to sell retail assets to Reliance for $3.4 billion. Read More...
BENGALURU (Reuters) – Shares of India’s Future Group companies surged 20% on Monday after the country’s antitrust agency suspended Amazon.com’s 2019 deal with the group in a potential blow to the U.S. e-commerce giant’s attempts to block the sale of Future’s retail assets to Reliance.
Amazon has for months successfully used the terms of its $200 million investment in Future to block the Indian retailer’s attempt to sell retail assets to Reliance for $3.4 billion.
(Reporting by Chris Thomas in Bengaluru)
