Reliance Retail in talks to put Subway India on its plate

After grocery, ed-tech, music, e-pharmacy, payments, fashion and furniture, Mukesh Ambani seems to be keen on taking a big bite of the quick service restaurant (QSR) business. Reliance Industries NSE 1.76 % is in talks with the world’s largest singlebrand restaurant chain, Subway Inc, to buy its India franchise for $200-250 million (Rs 1,488-1,860 crore), said people in the know. The Connecticut, US-headquartered sandwich maker does business in India through several regional master franchisees. Globally, the company is undergoing a restructuring under chief executive John Chidsey to move headquarters, slash costs and global headcount amid plummeting sales, warring franchisees and growing speculation of a world-wide takeover.