Reliance’s USD3.4 bn deal with Future Group halted

Chennai

The Delhi High Court has temporarily restrained Future Group from selling its retail assets to Reliance Industries Ltd, an interim win for Amazon which is opposing the deal with an eye to dominate a large and vital consumer market. The court on Tuesday ordered the Future Group and officials to ensure the status of the indebted Indian retailer’s assets are maintained as is, putting on hold any further steps toward completing the $3.4 billion sale to billionaire Mukesh Ambani’s Reliance conglomerate.