The bruising battle for control of a bankrupt Indian retailer isn’t over yet, and two of the world’s richest men are already heading for a second round on the cricket field.
The stake sale, which will give Generali majority control over the JV, comes as the Future Group is locked in a prolonged legal battle with partner Amazon.
In its plea, Amazon alleged wilful disobedience of Singapore arbitrator’s ruling temporarily restraining Future Group from going ahead with sale of its retail operations to Reliance.
The legal spat between two of the world’s richest men – Amazon’s Jeff Bezos & Reliance’s Mukesh Ambani – has also sparked a ‘foreign versus local’ debate.
Biyani’s Future Group is caught in a tussle for India’s consumer retail market, worth nearly $1 trillion, between firms led by two of the world’s richest men.
By seeking to stall Ambani’s purchase of Future, Bezos may be signalling he’d rather remain a rival. Or, he’s buying time to sweeten offer currently on table.
Hearing Amazon’s request for an interim order, an arbitration court in Singapore has put temporary hold on Future Group's $3.4 bn deal to sell assets to Mukesh Ambani’s Reliance.
Morbi makes 80-90% of India’s ceramic exports. The West Asia conflict has cut its propane supply, shutting 200 factories and threatening 400 more—along with 9 lakh livelihoods.
The Nirouyeh Vijeh Pasdaran Velayat, or NOPO, was the only force Ali Khamenei trusted.It was founded in 1991 and is more feared than the Revolutionary Guards.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
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