Mumbai: Mukesh Ambani-led Reliance Industries has offered to sell $20 billion stakes in its retail arm to Amazon, Bloomberg reported.
Ambani has already raised $20 billion this year from investors, including Facebook and Google.
The richest man in Asia is now focusing on retail after successfully taking his telecom network Jio to the topmost position in just four years. His retail company, Reliance Retail, has close to 12,000 stores. It had acquired Future Group’s retail arm last month.
Also Read: Reliance Retail Picks Up Majority Stake In Netmeds For Rs 620 Crore
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