InvestorQ : What is the latest on the three way takeover battle between Amazon, FEL and Reliance?
Rutuja Nigam made post

What is the latest on the three way takeover battle between Amazon, FEL and Reliance?

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6 months ago
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The battle of wits between Amazon, Reliance Industries and Future Group appears to be still in full swing. Amazon has been involved in a prolonged battle with Future Group over its sale of stake to Reliance Retail. Amazon’s contention was that as a shareholder in Future Coupons, it should have had the first right of refusal on the Future Enterprises stake.

After the Delhi High Court gave the go ahead for the deal, Amazon has now asked SEBI to wait for the final order of a Singapore court before clearing the FEL-RRVL merger. Amazon has written to SEBI that the SIAC Singapore arbitration court’s ruling had been, in the past, held valid under Indian arbitration laws by the Delhi High Court.

However, there could be an interpretation issue here. The Delhi High Court in its 21 December order had allowed Amazon to oppose the FEL-RRVL deal but left it to regulators, including SEBI, to decide on the validity of the deal. The real battle appears to be between Reliance and Amazon over the domination of the Indian retail space.

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