Amazon opposing retail stake deal as Reliance is competitor: Future Retail to Delhi HC

NEW DELHI: Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi High Court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL.

FRL contended before a bench of Chief Justice DN Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it’s more than 25,000 employees would be without any livelihood.