BENGALURU: Shares in Future Retail Ltd surged 13per cent on Friday, after India's antitrust body approved a deal that would give Amazon.com Inc a minority stake in one of the country's top retail groups.
In a brief statement on Thursday, the Competition Commission of India said it had approved Amazon's purchase of a 49per cent stake in Future Coupons Ltd, an entity that owns about 7.3per cent of Future Retail, adding that it would soon provide a detailed order. Last year, Amazon and Indian private equity firm Samara Capital announced a joint investment in an entity that would give Amazon a stake in local supermarket chain More.The Seattle-headquartered firm also owns a stake in Indian department store chain Shopper's Stop.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: