com Inc., potentially ending one episode of the broader clash between the two titans to control the country’s billion-people-plus market.
Ever since Reliance announced the plan in August 2020, to purchase Future’s core units for 247.1 billion rupees , the indebted retailer has found itself at the center of a battle between Ambani and Jeff Bezos. Similarly, Ambani was counting on the retail, wholesale, logistics and warehousing units of Future to expand the operations of Reliance Retail Ventures Ltd. — part of a broader pivot from the group’s main oil refining and petrochemicals businesses.Reliance’s decision to back out also comes after almost two years of tortuous litigation in various courtrooms across India and Singapore that worsened the financial health of Future Group.