Reliance said to offer 40% stake in retail unit to Amazon for USD 20 bn

Reliance Industries Ltd is reported to have offered a 40 per cent stake in its retail arm worth about USD 20 billion to Amazon.Com, Inc.

Bloomberg News citing a source reported that “Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd unit and has expressed interest in negotiating a potential transaction.”

The report went on to say that Reliance was “willing to sell as much as a 40 per cent stake in the subsidiary to Amazon” and the deal size at USD 20 billion would be the biggest ever in India.

Both Reliance and Amazon refused to comment on the report.