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Reliance offers Amazon $20 billion stake in retail arm

Reliance Industries is now offering to sell a roughly $20 billion stake in its retail arm to Amazon.com, according to the report.

As per the report, Reliance is willing to sell an around 40% stake in the retail business to Amazon.

Share in Reliance was around 4% in midday trading in Mumbai. The company earlier on Thursday became the first listed Indian firm to cross around $200 billion in market capitalization.

Amazon has held talks about investing in Reliance Retail and expressed interest in negotiating potential deals.

The news even follows a $1 billion investment announced by the Silver Lake Partners in Reliance Retail, which runs more than 10000 stores selling apparel, electronics, and groceries across India.

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