Comment on Reliance says its $3.4 billion deal with Future Group ‘fully enforceable under Indian law’ despite Amazon winning an arbitration

Reliance says its $3.4 billion deal with Future Group ‘fully enforceable under Indian law’ despite Amazon winning an arbitration

Reliance Retail, India’s largest retail chain, said on Sunday evening that its proposed deal to acquire Future Group’s assets for a whopping $3.4 billion — against which Amazon has filed a legal proceeding — is fully enforceable under the Indian law and it intends to complete the deal “without any delay.” Mukesh Ambani’s firm issued the statement after Amazon won an emergency order from a Singapore arbitration court earlier on Sunday to temporarily halt the proposed sale between the two Indian retail giants.

 

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