A court had blocked Future Group’s sale of a swathe of assets to rival Reliance Industries on February 2 after Amazon raised objections to the deal.
February 03, 2021 / 10:56 AM IST
File image: Future Group Chairman Kishore Biyani
India’s Future Group will challenge a New Delhi court order that has blocked its $3.4 billion retail assets sale on objections of business partner Amazon.com Inc, a source told Reuters on February 3.
An Indian court blocked Future Group’s sale of a swathe of assets to rival Reliance Industries on February 2 after Amazon raised objections to the deal, in a battle of the retail titans that could reshape the shopping sector.
The appeal against that order is set to be filed later on February 3 in the court, the source said, declining to be identified.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.