Ambani’s Reliance to Offer $20 Billion Stake in Retail Arm to Amazon
- Amazon has held talks about investing in Reliance Retail
- Reliance is willing to sell up to a 40% stake in retail unit
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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.