Amazon accuses Future of insider trading in RIL deal

Amazon.com Inc has asked India’s market regulator to investigate Future Retail Ltd for insider trading, as it seeks to prevent its business partner from becoming part of rival Reliance’s empire.

The US giant has been pressing the SEBI to review Reliance’s deal to buy retail, logistics and other assets from Future Group for $3.4 billion.

Amazon argues it had a 2019 agreement with Future which prevented the Indian group’s retail assets from being sold to certain parties, including Reliance Industries.