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Has Reliance denied reports of $20 billion Amazon deal?

Name: Has Reliance denied reports of $20 billion Amazon deal?
Uploaded: 2020-09-11T11:38:35.000+05:30
Duration: T00M39S
Channel: Editorji News Desk
Description: The report about the RIL-Amazon deal which sent the domestic giant's shares 7% higher on Thursday, contributing 126 points to the Nifty's 171 points gain, may not take place at all. Reliance Industries has ...

Updated: Sep 11, 2020 05:59

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The report about the RIL-Amazon deal which sent the domestic giant's shares 7% higher on Thursday, contributing 126 points to the Nifty's 171 points gain, may not take place at all.

Reliance Industries has denied a report that it was planning to sell a $20 billion stake in its retail business to Amazon, AFP reported quoting a source at the oil-to-telecom company.

However, Reliance, in an exchange filing, denied commenting on any such deal.

The report published by Bloomberg on Thursday mentioned that Mukesh Ambani-led RIL had offered Amazon a 40% stake in its retail business.

Amazon Bloomberg 7%40%Reliance Industries Reliance Mukesh Ambani AFP $20 billion Nifty RIL Thursday 171 points

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Has Reliance denied reports of $20 billion Amazon deal?

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