About: http://data.cimple.eu/news-article/acf7b2ce3392437f03ed4408bd0db36e3e6be90b2b260c64812a85f0

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About: http://data.cimple.eu/news-article/acf7b2ce3392437f03ed4408bd0db36e3e6be90b2b260c64812a85f0 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Indian conglomerate Reliance denied a report Thursday that it was planning to sell a $20-billion stake in its retail business to US rival Amazon in a deal that could upend the country's hugely lucrative e-commerce sector. The report published by Bloomberg on Thursday said that Reliance, owned by Asia's richest man Mukesh Ambani, had offered Amazon a 40-percent stake in its retail subsidiary RRVL, citing an unidentified person with knowledge of the matter. The deal, which would have been the largest for India and for the Silicon Valley behemoth according to Bloomberg data, would have shaken up the South Asian nation's retail sector, transforming the relationship between two firms that have spent months locked in frenzied competition. But a source at the Indian oil-to-telecoms giant disputed the report, which sent Reliance shares up by more than seven percent in Mumbai, calling it "inREFcorrect". "It makes no sense for both the parties to establish partnerships or collaborations," the source told AFP on condition of anonymity. An Amazon spokeswoman declined to comment on the report. Reliance has been fighting Amazon and Walmart-backed Flipkart for a share of India's online market, establishing its digital platform JioMart in May. After spending years battling local mom-and-pop shops for customers, the retail giants are now trying to work hand-in-hand with the smaller stores that dominate India's towns and hinterlands to bring them online. Reliance last month announced its acquisition of the retail, wholesale and logistics businesses of India's Future Group, which owns some of the country's best-known supermarket brands, adding around 1,800 stores to its portfolio. vm-amu/grk/rbu
schema:headline	India's Reliance denies plans for Amazon mega-deal
schema:mentions	Digital media Small business E-commerce Logistics Bloomberg L.P. Agence France-Presse Mukesh Ambani Asia Prime Video Supermarket Mumbai India Future Group Flipkart Upend Chaebol Silicon Valley Mark Roebuck
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	88 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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