In Contention: Reliance Retail extends deadline for Future deal
By IANS |
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Reliance Retail.. Image Source: IANS News
Mumbai, April 1 : In the contention of creating a mega retail giant, despite several legal and arbitration battles, Reliance Retail Ventures extended the timeline for its acquisition of Future Retail.
In financial parlance, the RRVL extended the long stop date for the acquisition till September 30, 2021.
Besides, the development showed Reliance Retail s confidence in clinching the deal amid the legal tussle going on with Amazon.
Notably, the previous long stop date to complete the transaction was March 31, 2021.
In a regulatory filing on Thursday, Future Retail said: Reliance Retail Ventures Limited (RRVL) has in exercise of the right provided thereunder, extended the timeline for Long Stop Date from March 31, 2021 to September 30, 2021 which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Limited, wholly owned subsidia
Explained: Why Future Retail shares fell 10% today indiatoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatoday.in Daily Mail and Mail on Sunday newspapers.
The Supreme Court has halted the regulatory approval for Future Group's deal with Reliance after Amazon filed a fresh petition. The top court has also issued a notice to Future Retail, Kishore Biyani and others.
Not just Future Retail but shares of Reliance Industries were also trading 1.5 per cent higher during the afternoon trading session. Here's is all you need to know:
Top India challenges ahead for new Amazon CEO
By IANS |
Published on
Wed, Feb 3 2021 17:51 IST |
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AWS head Andy Jassy to replace Jeff Bezos as Amazon CEO (Ld). Image Source: IANS News
New Delhi, Feb 3 : A toughened upcoming ecommerce policy, legal feuds, the imposition of new taxes and widespread anger among the leading retail associations, the road ahead for upcoming Amazon CEO Andy Jassy will not be a smooth one in India when he takes over the reins from Jeff Bezos in the third quarter of this year.
The fact is that just like Bezos, Jassy also treats India as one of the key growth markets.