Reliance offer 40% stake in Reliance Retail to Amazon for $20 bn
Mumbai, Sept. 10th, 2020: Reliance offered a 40 percent stake in its retail arm worth about USD 20 billion to Amazon.
As per the sources "Amazon has held discussions about investing in the conglomerate's Reliance Retail Ventures Ltd unit and has expressed interest in negotiating a potential transaction."The deal size at USD 20 billion would be the biggest ever in India. Both Reliance and Amazon refused to comment on the report.
"We would like to reiterate that as a policy, we do not comment on media speculation and rumors and we cannot confirm or deny any transaction which may or may not be in the works," Reliance said in an email response.
A similar response was also sent to stock exchanges.
"Our company evaluates various opportunities on an ongoing basis," it said. "We have m...