Reliance In Talks To Buy Online Furniture Retail, Milk Delivery Startups: Report
, Aug. 17 -- Reliance Industries Ltd is in talks to buy online furniture retailer Urban Ladder and milk delivery firm Milkbasket to strengthen its e-commerce business .
The oil-to-telecoms conglomerate's talks with Urban Ladder are at an advanced stage, the report said, citing four unnamed sources briefed on the matter. A deal could be pegged at around $30 million, it said, citing one of the sources.
Representatives at Reliance, Urban Ladder and Milkbasket did not immediately respond to Reuters requests for comment.
The news comes as the COVID-19 pandemic forces many Indians indoors, spurring a wave of online shopping, including for daily groceries such as milk.
Reliance, led by Asia's richest man, Mukesh Ambani, launched an online gr...
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