Headlines

Amazon in Talks to Buy Stake in Indian Retail Giant

Amazon is pondering buying a 26% stake in one of India’s largest retailers, Reliance

Published

5 years ago

August 2, 2019

VMSD_Olivia

Conversations are reportedly underway between two of the world's largest retailers, Amazon (Seattle) and Reliance Industries (Mumbai). Amazon is looking to buy a stake in Reliance, sources with knowledge of the talks told Reuters.

Amazon approached Reliance about the partnership, but, according to one of the sources, it is unclear as of now whether the deal will materialize.

Another source said Amazon could buy up to 26 percent stake in Reliance.

"For Amazon, it is about neutralizing a major rival and allowing itself to grow," said the second source told Reuters.

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