Amazon wins order to stall US$3.4bil Reliance-Future deal

Amazon drew the battle lines earlier this month when it accused Future of violating a contract between the two sides by agreeing to a buyout by Reliance. — Reuters

Amazon.com Inc secured relief in its dispute with Future Group after a court put a temporary hold on the debt-strapped Indian conglomerate’s US$3.4bil (RM14.15bil) deal to sell assets to billionaire Mukesh Ambani’s Reliance Industries Ltd.

An arbitration court in Singapore restrained Future Retail Ltd and its founders from going ahead with the sale, according to people with knowledge of the matter who asked not to be identified as the proceedings were private. The ruling was on Amazon’s request for an interim order before main tribunal hearings start.