MUMBAI: Indian conglomerate Reliance denied a report on Sept 10 that it was planning to sell a US$20bil (RM83.35bil) stake in its retail business to US rival Amazon in a deal that could upend the country's hugely lucrative e-commerce sector.
The report published by Bloomberg on Sept 10 said that Reliance, owned by Asia's richest man Mukesh Ambani, had offered Amazon a 40% stake in its retail subsidiary RRVL, citing an unidentified person with knowledge of the matter.
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