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rdf:type	schema:NewsArticle
schema:articleBody	Indian conglomerate Reliance has dismissed Amazon's push to delay its acquisition of domestic retail giant Future Group, despite an arbitration panel suspending the deal following objections by the US online titan. The row is the latest development in a prolonged battle for dominance in India between Reliance, owned by Asia's richest man Mukesh Ambani, and Amazon, whose founder Jeff Bezos is the world's wealthiest person. Amazon, which owned a stake in one of Future Group's firms that reportedly included an option to buy into the flagship company, claims that the $3.4-billion Reliance deal, announced in August, amounted to a breach of contract. After an arbitration panel ordered the deal to be put on hold following Amazon's request, Reliance said late Sunday that it would nevertheless "enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay". Reliance's retail subsidiary RRVL said in a statement that it had followed "proper legal advice" before agreeing to buy Future Group, adding that the deal was "fully enforceable under Indian Law". Reliance, Amazon and Walmart-backed Flipkart have been locked in a frenzied contest for a share of India's lucrative online market. The acquisition of Future Group, which owns some of India's best-known supermarket brands such as Big Bazaar, would strengthen Reliance's presence in the hugely competitive e-commerce sector. The arbitration panel has 90 days to give a final verdict on the Reliance-Future deal. amu/tw/mtp
schema:headline	India's Reliance to push on with retail deal in battle with Amazon
schema:mentions	Big Bazaar E-commerce Media conglomerate 90 Days (film) Jeff Bezos Mukesh Ambani Asia Prime Video Supermarket India Future Group Flipkart Final Verdict Atomic mass unit Core product
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	86 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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