Ambani on the prowl to acquire e-commerce firms

Tribune News Service

Updated At : 12:05 PM Aug 19, 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

New Delhi, August 18

Mukesh Ambani is looking to expand his retail footprint by acquiring several e-commerce players. This is being seen as a precursor to the ongoing battle with Amazon for India’s hot e-commerce retail market.

Mukesh Ambani’s Reliance Industries Ltd (RIL) is in discussions to acquire or buy stakes in furniture outlet, Urban Ladder, lingerie brand, Zivame, and online pharma store, Netmeds.

As per reports, RIL could pay as much as $160 million for Zivame while the Urban Ladder deal could be pegged at around $30 million and Netmeds at $120 million. Milkbasket, a milk company, is also said to be one of the targets. Ambani has raised more than $20 billion by selling equity stake in Jio Platforms.

RIL is also said to be in talks to acquire full or parts of Kishore Biyani’s Future Group’s retail assets. — IANS

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