Is Amazon Eyeing To Buy India's Reliance Retail?

(RTTNews) - (AMZN) is reportedly in talks with Indian retail giant Reliance Retail to acquire up to 26% in the brick-and-mortar retailer.

According to Economic Times, Amazon has approached Reliance with the proposition to acquire a stake after Reliance's negotiations with China's Alibaba Group to sell a stake in the retail entity fell through due to differences over valuation.

Amazon is widely reported to be in talks with the Future Group as well. An Amazon spokesperson said to Economic Times, "We do not comment on speculation about what we may or may not do in future."

A Reliance spokesperson said: "Our company evaluates various opportunities on an ongoing basis. We have made and will continue to make necessary disclosures in compliance with our obligations under Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and our agreements with the stock exchanges."

Amazon seeks to buy a stake less than 26% so that Reliance Retail can become a seller on its Indian marketplace. As per the revised FDI norms, no seller should be more than 26% owned by the platform as it will then be deemed a group company and barred.
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