NEW DELHI : For more than a year, Amazon.com Inc and India's Future Group have been locked in a complex legal stand-off that has stalled Future's US$3.4 billion sale of assets to the U.S. firm's rival Reliance Industries - with no end in sight.
Future denies any wrongdoing, saying Amazon is illegally seeking to exert control on Future's retail business. Future Retail - the group's flagship retail arm - says it faces liquidation and its more than 27,000 employees can become jobless if the Reliance deal fails.At stake is whether Amazon can become a bigger force in a US$900 billion retail market, with 1.3 billion consumers, from Reliance.
Keeping Future away from Reliance chimes with Amazon's efforts to combat billionaire Ambani's growth plans. In one confidential legal filing, Amazon said Reliance's consolidated position with Future"will further restrict competition in the Indian retail market".Future complained to India's antitrust agency, the Competition Commission of India , that Amazon was making incorrect and contradictory submissions about the intent of the 2019 deal.
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