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Amazon in talks to pick stake in Reliance Retail
July 25, 2020
Amazon is allegedly in cutting edge talks to secure a 9.9% stake in Reliance’s retail arm. As a piece of the arrangement, Amazon is hoping to get a liked, key stake in Reliance Retail for JioMart.
At present, both the stages Amazon Pantry’ and Reliance JioMart are going up against one another in the online basic food item space. On the off chance that the arrangement experiences, it would most likely fortify Amazon’s activities in the basic food item space, which is overwhelmed by players, for example, Bigbasket and Grofers.
Amazon representative said, “We don’t reply on speculation of what we could conceivably do later on”.
Amazon, which as of late extended its Amazon Pantry to more than 300 Indian urban areas, would be hoping to snatch a bigger pie in organization with Jio Mart. Propelled in May this year and accessible across more than 200 urban communities, JioMart covers everything identified with basic food item, FMCG and shopper merchandise.
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