Amazon.com Inc is in talks with Reliance Industries Ltd's retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources ...
NEW DELHI: Amazon.com Inc is in talks with Reliance Industries Ltd's retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters on Friday.
Amazon had made the proposal to Reliance for the partnership, but it was not clear whether a deal would materialize, said one of the sources. "For Amazon, it is about neutralizing a major rival and allowing itself to grow," said the second source, who added the company envisions helping Reliance's roughly 40 brands and grocery products go online.Further details of the possible deal, first reported by India's Economic Times newspaper on Thursday, were not immediately clear.
Reliance could potentially leverage Amazon's global experience in technology, supply chain and logistics as it aims to connect grocery stores across the country digitally through its Jio telecoms network - the biggest in India by subscribers.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rolls Royce faces probe over India dealsNEW DELHI: Indian investigators have launched a criminal probe into millions of dollars paid by a Rolls Royce energy firm to an intermediary in ...
Read more »
Judge narrows Woody Allen lawsuit against Amazon for quitting movie dealA federal judge in Manhattan on Wednesday narrowed Woody Allen's US$68 million lawsuit against Amazon.com Inc for backing out of a four-picture ...
Read more »
Rolls Royce faces probe over India dealsIndian investigators have launched a criminal probe into millions of dollars paid by a Rolls Royce energy firm to an intermediary in connection with deals with state-owned firms in the South Asian nation, according to documents seen by AFP. The document said officials from the Indian firms -- Hindustan
Read more »
India grants infrastructure project status to US$10-billion hyperloop planMUMBAI: Maharashtra has granted infrastructure project status for a US$10-billion plan to build the world's first ultra-fast hyperloop project, ...
Read more »
Amazon chief Bezos cashes in US$1.8 billion of share pileAmazon.com Inc founder Jeff Bezos sold shares worth US$1.8 billion in the last three days of July, reducing the value of his stake in the world's ...
Read more »