The person also said that Amazon hasn’t made any final decision on the size of its potential investment, and talks could still fall apart. A representative from Amazon declined to comment on the matter.
According to a person with knowledge of the matter, Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc.
The person also said that Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed interest in negotiating a potential transaction, Mint reported.
The Reliance industries based in Mumbai is willing to sell as much as a 40% stake in the subsidiary to Amazon, the person said on the condition of anonymity since the information is private.
If this deal takes place, 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. The deal of $20 billion, would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg.
The person also said that Amazon hasn’t made any final decision on the size of its potential investment, and talks could still fall apart. A representative from Amazon declined to comment on the matter.
“As a policy, we do not comment on media speculation and rumors,” read an email response from Reliance spokesperson to Bloomberg News. “Our company evaluates various opportunities on an ongoing basis. We have made and will continue to make necessary disclosures in compliance with our obligations,” the spokesperson added.
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