Reuters exclusively reported that Reliance Industries, India’s biggest conglomerate—run by Mukesh Ambani, the country’s richest man—presses ahead with a shock de facto takeover of prized retail real estate that Amazon.com Inc has been keen to take part-ownership of. The high-profile, bitter dispute between the corporate titans, in which Amazon has sought to block Reliance’s planned $3.4 billion purchase of Future Group’s retail assets, is currently before India’s Supreme Court. Analysts say Amazon had gravely underestimated Reliance.
The post Reuters reveals How Reliance stunned Amazon in battle for India’s Future Retail appeared first on Reuters News Agency.
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