Business & Finance
06 March 2022, 5:59 pm. 1 minute
Reuters exclusively reported that Reliance Industries, India’s biggest conglomerate—run by Mukesh Ambani, the country’s richest man—presses ahead with a shock de facto takeover of prized retail real estate that Amazon.com Inc has been keen to take part-ownership of. The high-profile, bitter dispute between the corporate titans, in which Amazon has sought to block Reliance’s planned $3.4 billion purchase of Future Group’s retail assets, is currently before India’s Supreme Court. Analysts say Amazon had gravely underestimated Reliance.