Reliance has 1,100 supermarkets, while Future has around 1,500. For its part, Amazon has invested $6.5 billion in India. At stake is whether Amazon can become a bigger force in a $900 billion retail market, with 1.3 billion consumers, than Reliance.
The high-profile bitter dispute between corporate titans in which Amazon has sought to block Reliance's planned Rs 259,79 crore purchase of Future Group's retail assets is currently before India's Supreme Court.
Amazon Wins Court Battle Over Ambani's $3.4 Billion Retail Deal | BoF Professional, News & Analysis businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Amazon.com Inc. won a crucial court case to halt billionaire Mukesh Ambani’s planned $3.4 billion purchase of an indebted Indian retailer, a big boost to the global e-commerce giant’s ambitions of dominating the country’s $1 trillion retail market.On Friday, a two-judge bench of India’s Supreme Court ruled that an emergency order by a Singapore arbitrator last year, which stopped Reliance from proceeding with the deal, is legally binding. Amazon had approached the arbitration cour
Amazon wins court battle over Mukesh Ambani's $3.4 billion retail deal gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.