What does Reliance and Future Group deal mean for India
Image Credit: shortpedia
In a major move, Mukesh Ambani's Reliance Industries has announced the decision to buy businesses of Kishore Biyani-promoted Future Group for Rs. 24,713 crore. The deal has been made on a slump sale basis and will contribute towards boosting Reliance's e-commerce play to take on Jeff Bezos-led Amazon India. Further, the latest slump sale means Reliance Retail will now own as many as 1,800 Future Group stores.