Amazon Eyes 9.9% Stake In RIL's Retail Arm

As per a leading news channels report, US-based e-tailer Amazon is in preliminary talks to buy a 9.9% stake in RIL's retail arm. As per the tweets, the e-retailer expects a preferred, strategic deal with Reliance Retail for JioMart.

Reliance Jio Mart launched in the month of May poses a huge challenge to e-commerce giant as well as Flipkart.

Earlier in the year as the lockdown was imposed in the country to curb the spread of the virus, Amazon on its platform added small local shops.

GoodReturns.in