×
154
Fashion Jobs
PUMA
Senior Key Account Manager Running Nordic
Permanent · Solna
PUMA
Senior Marketing Manager Cobra Puma Golf Europe
Permanent · Solna
PUMA
Strategic Key Account Manager Pure Players
Permanent · Solna
H&M
Global Head of Marketing h&m Sport
Permanent · Stockholm
H&M
Project Leader For Material Certification And Material Trademark Within Group Compliance
Permanent · Stockholm
PUMA
Project Manager IT Sap
Permanent · Solna
H&M
Art Director – h&m Group Communications
Permanent · Stockholm
H&M
Data Analyst to Predictive Analytics Team @h&m Business Tech
Permanent · Stockholm
H&M
Data Analyst to an Inventory Optimization Team in Business Tech
Permanent · Stockholm
H&M
Business Minded Data Specialist to h&m Group
Permanent · Stockholm
H&M
Scrum Master (Service Now) to Support And Operations Toolings Team at h&m Business Tech
Permanent · Stockholm
H&M
we Are Looking For Business Intelligence Analysts to Group Expansion, h&m
Permanent · Stockholm
H&M
Business Intelligence Analyst
Permanent · Stockholm
H&M
Cyber Security Trainer
Permanent · Stockholm
H&M
Security Advisor
Permanent · Stockholm
H&M
h&m is Looking For a Business Expert For Allocation Precision
Permanent · Stockholm
H&M
Power bi Specialist to Kpi Dashboards Within Business Tech
Permanent · Stockholm
H&M
ai Learning & Development Manager
Permanent · Stockholm
H&M
Import-Export Manager to h&m Distribution Centre in Eskilstuna
Permanent · Eskilstuna
H&M
Scrum Master to Support & Operation Tooling, Monitoring & Insights Team at h&m Business Tech
Permanent · Stockholm
H&M
Data Analyst to Allocation Precision Team to Business Tech
Permanent · Stockholm
H&M
Data Analyst to h&m Business Tech - Payments Area
Permanent · Stockholm
By
Reuters API
Published
Nov 28, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Amazon asks India antitrust body to revoke Reliance-Future deal approval

By
Reuters API
Published
Nov 28, 2021

Amazon has asked India's antitrust regulator to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows.


The winner in the fight for Future Retail Ltd, India’s second-largest retailer and Amazon’s estranged local partner, will get pole position in the race to meet the daily needs of more than a billion people - Reuters


The approval for the deal was a "nullity in the eyes of law" as an arbitrator's order was still in force, according to the letter sent by Amazon.com Inc to the Competition Commission of India (CCI) last week.

The battle between two of the world's richest men, Amazon founder Jeff Bezos and Reliance Industries Ltd boss Mukesh Ambani, marks a contest for preeminence in India’s booming, nearly trillion-dollar retail market.

The winner in the fight for Future Retail Ltd, India’s second-largest retailer and Amazon’s estranged local partner, will get pole position in the race to meet the daily needs of more than a billion people.
The CCI, Amazon, Future Group and Reliance did not respond to requests for comment.

Future has said the arbitrator's suspension order was invalid but Indian courts have declined to overturn it.

If the regulator agrees with the previously unreported letter, it would be a major setback for oil-to-telecom conglomerate Reliance.

Amazon won an injunction against the deal from a Singapore arbitrator last year, alleging Future had violated contracts that prevented it from selling the assets to entities including Reliance.
But the CCI later cleared the deal.

Future misled the CCI and continued to seek approval for the deal, Amazon said in the letter dated Wednesday, calling the injunction a "brazen attempt to subvert the rule of law".
Amazon asked for a personal hearing from the CCI to make its case.

The letter comes as Amazon is also battling allegations that it misrepresented facts and concealed information while seeking antitrust clearance for a 2019 deal with Future Group.

Amazon has so far successfully used this deal's contracts to block Future's deal with Reliance.

© Thomson Reuters 2022 All rights reserved.