Mukesh Ambani's Reliance Industries set to buy stake in Future Group companies: report
Although Future Retail has buyers waiting, including Amazon, a bid from Reliance Industries to buy stake in the holding company could generate favourable results for it
- Jun 18, 2020,
- Updated Jun 18, 2020 8:37 PM IST
Mukesh Ambani-led Reliance Industries is close to finalising a deal with Kishore Biyani's Future Group for buying stake in some group companies of the latter. An announcement in this regard is expected to come next month, Bloomberg reported while quoting sources in the know.
The deal is expected to provide a leg-up to Reliance Industries' e-commerce ambition. The oil-to-telecom conglomerate recently took its retail arm, Reliance Retail online. Although Future Retail has buyers waiting, including Amazon, a bid from Reliance Industries to buy stake in the holding company could generate favourable results for it.
Mukesh Ambani-led Reliance Industries is close to finalising a deal with Kishore Biyani's Future Group for buying stake in some group companies of the latter. An announcement in this regard is expected to come next month, Bloomberg reported while quoting sources in the know.
The deal is expected to provide a leg-up to Reliance Industries' e-commerce ambition. The oil-to-telecom conglomerate recently took its retail arm, Reliance Retail online. Although Future Retail has buyers waiting, including Amazon, a bid from Reliance Industries to buy stake in the holding company could generate favourable results for it.