Amazon reported to be in talks to buy 9.9% stake in Reliance retail arm

Amazon reported to be in talks to buy 9.9% stake in Reliance retail arm

Amazon is in talks to buy a 9.9% stake in the retail arm of Reliance Ind. Amazon is looking for a preferred, strategic stake in Reliance Retail for JioMart. JioMart is the e-commerce venture of Reliance’s retail arm, launched in May and poses a formidable challenge to Amazon.com’s local unit and Walmart Inc’s Flipkart. Amazon as well as Reliance have not yet officially confirmed this news yet.

Milan
Milan
Top in Business
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