Amazon has also shown immense interest and has held talks about investing in Reliance Retail.
Telecom giant Jio led by Mukesh Ambani is overflowing with amazing endeavours with giants like Facebook, Qualcomm, and Goolge investing heavily into the firm. Now, it looks like Reliance is industries, instead of taking, is about to sell a roughly $20 billion stake in its retail unit to Amazon as reported by BloombergQuint on Thursday.
A sum of $20 billion is roughly 40% of stake in the retail market which is a lot considering how big the retail chain of Reliance is, which includes everything from Apparels, to electronics, to even groceries as Reliance recently bought a Future Group that used to own Big Bazaar. The company also recently became the first Indian film to cross $200 billion capital.
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On the other hand, Amazon has also shown immense interest and has held talks about investing …