The Indian unit of Jeff Bezos-led Amazon has begun formal negotiations with Kishore Biyani’s Future Group to invest around $600-700 million for a 12 to 15 per cent stake in the retail major, it is learnt. The two entities have signed a term sheet to take the talks further, sources said.
Although there’s nothing binding about a term sheet, it denotes the two sides have officially entered a pact. The deal, if it fructifies, is likely to be a combination of cash and stocks. The development is significant as it comes soon after the world’s largest retailer Walmart ...
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