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An Amazon.com Inc-Reliance Industries deal may be in the offing, say reports

Reliance was previously in talks with China's Alibaba to sell a stake in Reliance Retail, but a deal could not be sealed due to differences in valuation.

India TV Business Desk India TV Business Desk
New Delhi Published on: August 02, 2019 21:19 IST
Another source, according to Reuters, said Amazon had been
Image Source : AP

Another source, according to Reuters, said Amazon had been pondering a proposal to purchase an up to 26 per cent stake in the Reliance unit since at least February.

Amazon.com Inc has recently been in talks with Reliance Industries' retail unit to buy a stake in India's biggest brick-and-mortar retailer, a Reuters report has said.

It is held that the said partnership will help the duo counter Walmart, which last year invested $16 billion in Flipkart -- further helping them in their battle for a bigger share of India's fast-growing e-commerce market.

Reliance, in late December, had got a major push after the government modified rules around foreign direct investment (FDI) in e-commerce, creating additional hurdles for companies such as Amazon and Flipkart.

Another source, according to Reuters, said Amazon had been pondering a proposal to purchase an up to 26 per cent stake in the Reliance unit since at least February.

Reliance was previously in talks with China's Alibaba to sell a stake in Reliance Retail, but a deal could not be sealed due to differences in valuation.

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