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Reliance-Future Group deal takes 3-month break

by News Monks

Reliance Group is now in a battle for supremacy over a deal to buy Future Group’s Big Bazaar brand.  The deal has sparked controversy between two of the world’s richest men. Amazon’s Jeff Bezos and Reliance Ind. Chairman Mukesh Ambani have clashed. 

A court in Singapore has ruled in Amazon’s favor and granted an interim stay on the deal.  The court said Future Group will not be able to deal with Reliance until the final verdict is announced.  Reliance has struck a Rs 24,713 crore deal to buy Future Group’s retail, wholesale business, against which Amazon had filed a complaint in court.  Reliance Group has released its statement following the court ruling.

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