Amazon likely to buy 7-8 percent stake in Future Retail: TV
Amazon.com Inc is likely to buy an at least 7 percent to 8 percent stake in India`s Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources.
Amazon.com Inc is likely to buy an at least 7 percent to 8 percent stake in India`s Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources. The potential cash-and-stock deal, which is in its final stages, could be worth 25 billion rupees ($338 million) and is likely to be
signed in the next two weeks, the channel said. Earlier this year, media reports said Amazon was in talks to buy a 10 percent stake in Future Retail, competing with tech giant Google and Alibaba-backed Paytm. Future Retail had denied the reports.
The potential deal will be next in a series of acquisitions by Amazon.com Inc in one of the fastest-growing markets in the face of competition from Walmart Inc`s Flipkart.
Watch this Zee Business video here:
In September, Amazon, along with private equity firm Samara Capital, bought Aditya Birla Group-owned `More` retail chain for an enterprise value of 42 billion rupees ($568.03 million). Amazon India and Future Retail did not immediately respond to requests seeking comment. ($1 = 73.9400 Indian rupees)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
06:58 PM IST