The stakes are high for both Amazon and Reliance. Securing Future’s assets will give Reliance, already India’s biggest retailer, an unparalleled edge in a market where most of the consumers still prefer shopping in stores. That’s an advantage Amazon is not willing to cede. — Reuters
A battle between Amazon.com Inc and Reliance Industries Ltd to dominate India’s US$1 trillion (RM4.08 trillion) consumer market is stoking nationalist rhetoric in a courtroom and outside, as the two companies tussle over the future of a distressed local retailer.
At the center of the case is Amazon’s efforts to block Reliance’s planned purchase of Future Group’s assets, saying the Indian retailer violated a contract by agreeing to a sale to a rival controlled by billionaire Mukesh Ambani. The Delhi High Court is now weighing if the US e-commerce giant has any legal basis to object to the transaction and a ruling is expected in weeks.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
