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10th-Sep-2020 14:17Source: BSE

Reliance Industries - Clarification sought from Reliance Industries Ltd

The Exchange has sought clarification from Reliance Industries Ltd on September 10, 2020, with reference to news appeared in Livemint.com dated September 10, 2020 quoting "Reliance Industries offers Amazon $20 billion stake in retail arm Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter. 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 person said. Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, the person said, asking not to be identified because the information is private. A deal, if successful, would not only create a retail behemoth in India but will also turn Jeff Bezos and Asia’s richest man from rivals into allies in one of the fastest-growing consumer markets in the world. At $20 billion, the deal would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg."

The reply is awaited.