How RIL discretly blocked rival Amazon out in Future retail biz

New Delhi/Mumbai: By proposing to acquire the retail assets of Future Group (and not Future companies), the Mukesh Ambani-led Reliance Industries (RIL NSE -0.18 %) has ensured that rival Amazon does not become its shareholder.

Amazon is a significant shareholder (49%) in a Future Group company, which owns about 10% stake in Future Retail, the largest outfit within the group in terms of turnover and which operates more than 1,000 stores under Big Bazaar, Fbb, Foodhall and Easyday Club brands.