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.