Understanding Amazon-Reliance-Future Group Case as CCI approved the latter's acquisition
New Delhi, Nov. 23 -- Mukesh Ambani's Reliance Industries in August announced the acquisition of businesses of Kishore Biyani's Future Group for Rs.24,713 crores. It would add to its fast-expanding retail business and bolster the e-commerce segment. But this put Flipkart and Amazon in a great fix in the Indian Market. This was an even more problematic area for Amazon, as the latter has invested in Future Group. It picked up a 1.3 per cent stake in Future Retail last year through Future Coupons, in which it bought a 49 per cent stake.
Amazon filed a suit alleging that Future Group had engaged in insider trading and violated contracts. Amazon has argued that its contract with Future Coupons, one of Future Group's holding companies, prohibi...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.