India's Reliance Industries has offered to sell an estimated $ 20 billion stake in its retail arm to Amazon.com.
According to Reuters, Bloomberg reports that the giant, which extends its activities from oil to telecommunications and is led by billionaire Mukesh Ambani, which has already raised $ 20 billion this year from Investors, including Facebook and Google, want to sell up to 40% of retail activity to Amazon.
neither Amazon nor Reliance responded to Reuters' requests for comment.
and the richest man in Asia is shifting his focus to retail after he has successfully built the largest telecommunications network in India by number of clients in less than 4 years, and hopes to reach a center Dominant with the massive consumer market in India reaching maturity.
The Bloomberg report said that Amazon had been in talks about investing in Reliance Retail, and had shown interest in negotiating potential deals but had not made a decision.
Reliance Retail acquired rival retail arm of the Future Group last month, and yesterday announced a billion-dollar investment from Silver Lake Partners.
The company has nearly 12,000 stores selling a wide range of products.
(Amazon fun knowledge)
