Amazon-Future-RIL saga: A look back at when and how the battle began
As Future Group and Amazon are set to hold negotiations to settle the tab over the Future-Reliance deal, CNBC-TV18’s Shilpa Ranipeta looks back at when and how the battle for supremacy in India's retail landscape really began.
Court after court, date after date and finally, Amazon and Future have a deadline to settle the three-way saga -- between Future, Amazon and Reliance Industries -- for supremacy in India’s retail landscape.
In 2019, Jeff Bezos-backed Amazon picked up an indirect stake in Kishore Biyani-backed Future Retail via 49 percent stake in Future Coupons which gave the e-commerce player a 3.5 percent stake in Future Retail.
The battle began a year later in August when Reliance Industries (RIL) announced it would buy Kishore Biyani’s debt-ridden Future Retail in a Rs 25,000 crore deal.
Also Read:
The American e-commerce giant objected and sought to block the deal between RIL and Future Retail claiming that Biyani violated terms of their deal with Amazon by selling stake to a third party -- RIL -- when the US-based firm was willing to help as well.
After several twists and turns, it may be tough to keep pace with the developments.
Watch the accompanying video of CNBC-TV18’s Shilpa Ranipeta to know everything about the battle.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Catch all stock market updates here
First Published: Mar 14, 2022 2:21 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
'Lord Jagannath devotee of PM Modi', says Sambit Patra; Opposition lashes out at BJP
May 21, 2024 8:56 AM
Lok Sabha Election 2024: Phase 5 voting concludes with over 57% voter turnout, experts weigh in on key battles
May 20, 2024 11:07 PM
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM