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New Delhi: Negotiations between Amazon India and Future Retail on the return on investment have failed.
Mukesh Ambani’s Reliance has agreed to buy Kishore Piani’s Future Retail for Rs 23,000 crore.
However, a case related to this is pending in the Supreme Court. In the meantime, both companies have offered to settle the matter out of court.
Accordingly, a compromise was reached between the two companies regarding the acquisition of at least Rs 1,500 crore of Amazon’s investment in Future Retail.
Amazon India has refused to accept this. Consequently, the compromise talks have failed, according to Future and Amazon, the Supreme Court has said.
