Amazon in talks to buy stake in RIL’s retail arm

Tribune News Service

Updated At : 01:09 PM Jul 24, 2020 IST

Unlock Exclusive Insights with The Tribune Premium

Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits

Yearly Premium ₹999 ₹349/Year

Yearly Premium $49 $24.99/Year

Bengaluru, July 23

Amazon.com Inc is in talks to buy a 9.9% stake in the retail arm of Reliance Industries Ltd, a TV channel reported on Thursday, citing sources.Amazon wants a preferred, strategic stake in Reliance Retail for JioMart, according to tweets by the television channel.

JioMart, the e-commerce venture of Reliance’s retail arm, was launched in May and poses a challenge to Amazon.com’s local unit and Flipkart. Earlier this year, Amazon India launched a programme to add small local shops on its platform after India went into a lockdown to curb the spread of the coronavirus outbreak. — Reuters

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Unlock Exclusive Insights with The Tribune Premium

Suggested Articles