Amazon Blocks Ambani’s $3.4 Billion Deal to Buy Retailer

Bloomberg2021-02-22

Reliance Industries wants to buy Future Group’s retail assets Top India court has stopped final approval for the transaction India’s Supreme Court stopped regulatory approval for the Future Group’s $...

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Comments

Bxxxxxxx
2021-02-23
Bxxxxxxx
Wow
CL777
2021-02-23
CL777
Go amazon go!
Bradan
2021-02-22
Bradan
Help me comment
- Bxxxxxxx:
  Ok
Vern88
2021-02-22
Vern88
Nice and linke
Lucky222
2021-02-22
Lucky222
Interesting.
Anz
2021-02-22
Anz
Oh yea!!!

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The court also sought written statements from Future Retail Ltd.and said it will hear the case after five weeks. Future’s stocks and bonds fell.\nThe latest verdict restores the legal advantage for Jeff Bezos-founded Amazon that secured an interim stay on the deal from a Singapore arbitration tribunal in October. It accused the Future Group of violating a partnership contract when it agreed to sell assets to billionaire Mukesh Ambani’s conglomerate last year. The Monday order, however, endangers Future Retail, which is struggling to pay debt and has warned of insolvency.\nFuture Retail’s stock fell as much as 10% and its dollar bond maturing in 2025 gave up earlier gains after the court order Monday, falling the most in two weeks, Bloomberg-compiled prices show. Reliance Industries also slipped as much as 2.6%.\n\nRepresentatives for Amazon India, Future and Reliance Industries didn’t immediately respond to requests for comment.\nFuture Retail can move the Singapore arbitration tribunal to lift the interim stay the emergency arbitrator had imposed, that has formed the basis of Indian Supreme Court’s order.\nThe cash strapped Indian retailer, which says it would collapse should the deal with Reliance fail, is caught between two of the world’s richest men as they compete for dominance in India’s estimated $1 trillion consumer retail market. The legal dispute over Future has turned into a fierce legal wrangle across courtrooms in two countries. Amazon is unwilling to cede any competitive advantage to Reliance in the only billion-people-plus market left in the world after the American firm lost out to local rivals in China.\nThe case is also keenly watched by investors as it sets a precedent on the validity of emergency decisions by foreign arbitrators in India. The verdict comes at a time when Amazon is increasing its footprint in the country. The U.S. firm announced this month that it was setting upmanufacturing operations in the South Asian 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amazon go!&nbsp;","listText":"Go amazon go!&nbsp;","text":"Go amazon go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369616416","repostId":1195232127,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369356969,"gmtCreate":1614005759951,"gmtModify":1704886821432,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"htmlText":"Help me comment","listText":"Help me comment","text":"Help me 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and linke","listText":"Nice and linke","text":"Nice and linke","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/360774935","repostId":1195232127,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":360754039,"gmtCreate":1613983471921,"gmtModify":1704886422497,"author":{"id":"3562242161850032","authorId":"3562242161850032","name":"Lucky222","avatar":"https://static.tigerbbs.com/b508cc2a57922485ad47a4671237db54","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3562242161850032","authorIdStr":"3562242161850032"},"htmlText":"Interesting.&nbsp;","listText":"Interesting.&nbsp;","text":"Interesting.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/360754039","repostId":1195232127,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":360752750,"gmtCreate":1613983396370,"gmtModify":1704886421039,"author":{"id":"3567817365417151","authorId":"3567817365417151","name":"Anz","avatar":"https://static.tigerbbs.com/2938b4d9153a1320116f1ccc88fa5c59","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3567817365417151","authorIdStr":"3567817365417151"},"htmlText":"Oh yea!!!","listText":"Oh yea!!!","text":"Oh yea!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/360752750","repostId":1195232127,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":32,"commentSize":14,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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