Future Group founder Kishore Biyani is negotiating an agreement with Amazon that will give the US-based online retailer the option to acquire Biyani in the future, The Economic Times reported last week. The report said the e-commerce giant is in an advanced stage of talks to buy a 9.5% stake in Future Retail Ltd. Amazon has been testing the waters with stakes in smaller offline companies, including Shoppers Stop Ltd and Aditya Birla Group’s food and grocery retail chain, More. A stake in Future Retail will be a far bigger step in marrying its online presence with offline stores.

Publication: Mint Live (Online)

Date: December 3, 2018