‘The shops are gone’: How Reliance stunned Amazon in battle for India’s Future Retail | Malay Mail

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MUMBAI, March 7 — At a large Future Retail supermarket in Mumbai last week, workers were unloading hundreds of bright blue grocery crates belonging to India’s biggest retailer Reliance. Prospective customers were turned back by security, disappointed at the closed state of the store that still...

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MUMBAI, March 7 — At a large Future Retail supermarket in Mumbai last week, workers were unloading hundreds of bright blue grocery crates belonging to India’s biggest retailer Reliance.

The high-profile bitter dispute between corporate titans in which Amazon has sought to block Reliance’s planned US$3.4 billion purchase of Future Group’s retail assets is currently before India’s Supreme Court. At a Future store in Sonipat town in northern Haryana state, announcements were made asking customers to leave as Reliance seized control, one source said. In Vadodara in western Gujarat, Future employees arriving for work the next morning were asked to go back home with no explanation, said another source.

Reliance’s sudden possession of the stores appears to have landed what some analysts are calling a coup de grace that spoils Amazon’s chances of untangling the transfer of Future’s assets to Reliance. That’s despite a series of legal battles won by the US e-commerce giant to date blocking the 2020 deal announced between the two Indian companies.

The legal wrangles had over time become increasingly high-stakes and marked by ugly rhetoric. At one point, Amazon sought for Future Chief Executive Kishore Biyani to be detained in prison for disobeying a legal order. And Future once likened Amazon to Alexander the Great and his “ruthless ambition to scorch the earth”.

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