Indian oil-to-telecoms conglomerate Reliance Industries is offering to sell a roughly US$20 billion stake in its retail arm to Amazon.com Inc , ...
Indian oil-to-telecoms conglomerate Reliance Industries is offering to sell a roughly US$20 billion stake in its retail arm to Amazon.com Inc , BloombergQuint reported on Thursday, citing Bloomberg News.
The Bloomberg report, citing one unnamed person with knowledge of the matter, added that billionaire Mukesh Ambani-led Reliance is willing to sell an up to 40per cent stake in the retail business to Amazon, according to BloombergQuint.Shares in Reliance were up 4per cent in midday trading in Mumbai. The company earlier on Thursday became the first listed Indian firm to cross US$200 billion in market capitalisation.
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