After missing two self-imposed deadlines, Mukesh Ambani s Reliance Industries has shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco.
Talks between both the two giants have been going on for the past two years. The delay was caused due to Covid-19 pandemic and falling crude oil prices. If the deal is signed, it'll be Saudi Aramco's first all-stock deal since the IPO