Amazon eyes 7-8 percent stake in Future Retail

The cost of this potential cash-and-stock deal could be worth 25 billion rupees
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Amazon.com Inc is looking to buy an at least 7 percent to 8 percent stake in India's Future Retail Ltd through an investment arm as reported with leading media resources. The cost of this potential cash-and-stock deal could be worth 25 billion rupees ($338 million) and is likely to be signed in the next two weeks.

Earlier this year, media reports said Amazon was in talks to buy a 10 percent stake in Future Retail, competing with tech giant Google and Alibaba-backed Paytm. Future Retail had denied the reports. Amazon India and Future Retail did not immediately respond to requests seeking comment.

( Source:PTI)

 
 
 
 
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