Amazon.com Inc is in exploratory talks with Reliance Industries Ltd's retai...
) retail unit to buy an up to 26% stake in India’s biggest brick-and-mortar retailer, the Economic Times reported on Thursday.
Having an online partner would help strengthen Reliance’s retail business, the person added, declining to be identified as the matter was private. “As a policy, we do not comment on media speculation and rumors,” Reliance said in a statement. “Our company evaluates various opportunities on an ongoing basis.”Reliance could potentially leverage Amazon’s global experience in technology, supply chain and logistics as it aims to connect grocery stores across the country digitally through its Jio telecoms network - the biggest in India by subscribers.
“There could be synergies which are beyond retail,” said Arvind Singhal, chairman of retail consultant Technopak Advisors. “Whenever there is any kind of policy intervention needed, to be a partner with Reliance certainly will be a big asset.”
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