Market surges after report says Amazon looking at 40% in Reliance Retail

Amazon said “bad actors like those in this case detract from the flourishing community of honest entrepreneurs that make up the vast majority of its sellers.” (Image: Bloomberg)

After completing an over $20-billion fundraise for Jio Platforms, Reliance Industries Ltd is said to be in talks to raise as much money by off-loading a 40 per cent stake in its arm, Reliance Retail Ventures Ltd, to Amazon Inc, the world’s biggest internet company, Bloomberg News reported Thursday.

This comes less than a month after Reliance Retail — India’s largest retailer — strengthened its position in the sector by acquiring assets from its…