Amazon scores Indian win as court freezes Future’s $3.4 billion retail deal
By Abhirup Roy and Aditya Kalra
NEW DELHI (Reuters) – An Indian court blocked Future Group’s sale of a swathe of property to rival Reliance Industries on Tuesday after Amazon raised objections to the $3.4 billion deal, in a battle of the retail titans which may reshape the buying sector.
The decision is a setback for Future, the nation’s second-largest retailer with over 1,700 retailers, which agreed to advertise its retail corporations to market chief Reliance ultimate yr. It has talked about it might face liquidation if the deal falls through.
U.S. on-line large Amazon, which had its sights set on ultimately proudly proudly owning part of the retail property itself, argued a 2019 deal it had with a unit of Future contained clauses prohibiting the Indian group from selling them to anyone on a “restricted people” itemizing along with Reliance.
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