REUTERS: Amazon.com Inc is in late-stage talks to buy as much as 10 per cent of India's Future Retail Ltd, Bloomberg reported on Tuesday , citing people familiar with the matter.
Future Group is seeking a valuation of about 20 billion rupees from Amazon for the stake, according to the report. The retail group currently operates more than 900 stores in India and owns nine supermarket brands, including Big Bazaar. The world's largest online retailer has been slowly building up stake in brick and mortar stores in India. Deloitte expects India's fast-growing e-commerce market to more than treble to US$84 billion between 2017 and 2021.
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