Reliance and Amazon may have a deal worth $20 billion

Reliance and Amazon may have a deal worth $20 billion

Reliance Industries Corporation is all set to sell the 40% stake of its retail arm worth $20 billion to Amazon. As per sources eyeing the depth of the business of Reliance in the Indian market, the online retail giant Amazon has been discussing the deal and is interested in stepping in the potential transaction.

Ambani-Bezos

Having 12,000 stores in nearly 7000 towns, Reliance retail is in various segments like; supermarkets, electronic chain store, fashion outlets, JioMart and the cash and carry wholesale business. It has registered the revenue of around 1.63 trillion rupees i.e $22 billion during the month of March 2020. If the deal between the two giants is finalised, it will not only make India a retail behemoth but will also turn the richest persons in the world to companions from rivals. The deal of $20 billion will be the biggest deal, not only for India but also for Amazon.

Read More at The Indian Express

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