Amazon is investing $20 billion in the retail business of India’s Mukesh Ambani’s Reliance Industries Ltd. The Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, Business Standard reports. People, there is a big party happening in India, and America is attending with tons of cash.
This party extends the one of a few weeks ago, “Qualcomm invests $97m in Reliance Jio, hours Google announced it would ship $10 billion. Facebook had dropped some $5.7 billion already. Amazon continues to ship cash to India. And Walmart’s pen has not dried up. Vista Equity Partners is not left out. People, #India is having a great party of a generation. America goes India!”
Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter.Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed interest in negotiating a potential transaction, the person said. Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, the person said, asking not to be identified because the information is private.A deal, if successful, would not only create a retail behemoth in India but will also turn Jeff Bezos and Asia’s richest man from rivals into allies in one of the fastest-growing consumer markets in the world. At $20 billion, the deal would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.