Reliance offers Amazon $20 billion stake in retail arm

News Network
September 10, 2020

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Bengaluru, Sept 10: Indian oil-to-telecoms conglomerate Reliance Industries is offering to sell a roughly $20 billion stake in its retail arm to Amazon.com Inc , BloombergQuint reported on Thursday, citing Bloomberg News.

The Bloomberg report, citing one unnamed person with knowledge of the matter, added that billionaire Mukesh Ambani-led Reliance is willing to sell an up to 40 per cent stake in the retail business to Amazon, according to BloombergQuint.

Shares in Reliance were up 4 per cent in midday trading in Mumbai. The company earlier on Thursday became the first listed Indian firm to cross $200 billion in market capitalisation.

Amazon has held talks about investing in Reliance Retail and expressed interest in negotiating potential deals, according to the report.

The news follows a $1 billion investment announced Wednesday by Silver Lake Partners in Reliance Retail, which runs more than 10,000 stores selling apparel, groceries and electronics across India.

Amazon did not immediately respond to a Reuters request for comment. Reliance did not immediately return an email seeking comment.

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News Network
October 23,2020

Bengaluru, Oct 23: Paramilitary forces arrived in the city on Friday and it will be deployed in sensitive areas during the by-election to Rajarajeshwari Nagar Assembly constituency scheduled for November 3.

"The Central paramilitary forces have arrived in the city. One is from Bengaluru, another being grouped from Tamil Nadu, Telangana and Mysuru," Bengaluru Deputy Commissioner of Police (West division) Sajeev M Patil said.

He said the Central Industrial Security Force contingent is also being deployed in the west division.

The battle in the RR Nagar constituency has intensified with candidates and political parties trading allegations of poll code violations on each other.

The BJP has fielded Munirathna, a Congress turncoat, while H Kusuma, wife of IAS officer late Ravi is contesting from Congress and V Krishnamurthy is the JDS candidate.

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News Network
October 27,2020

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Dubai, Oct 27: The versatile AB de Villiers has decided to skip the Big Bash League (BBL) this year due to the Covid-19 pandemic and the upcoming birth of his third child but is open to return in future due to "unfinished business" at Brisbane Heat.

The two factors prompted the former South African skipper to pull out of the T20 league. The 36-year-old is currently playing in the Indian Premier League for Royal Challengers Bangalore in the UAE.

"We are expecting our latest child very soon and with a young, growing family, and the uncertainty around travel and conditions due to Covid-19, we reluctantly decided it wasn't going to be this season," de Villiers said in a statement.

"The Heat were great to us last season and I am very open to returning to the club in future. The team didn't get the results we were hoping for and I consider there is some unfinished business to deal with."

De Villiers signed a contract with the BBL franchise last season and scored 146 runs at an average of 24.33.

The seasoned campaigner has been in fine form in the ongoing IPL, having amassed 324 runs at an average of 54.

Brisbane Heats head coach said the team was keen to have de Villiers' service in the upcoming season.

The Big Bash League is scheduled to start on December 3 with a clash between Adelaide Strikers and Melbourne Renegades.

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News Network
October 30,2020

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Bengaluru, Oct 30: Karnataka Chief Minister B S Yediyurappa on Friday hinted that he would expand his cabinet after the by-elections scheduled for R R Nagar and Sira Assembly Constituencies in the State.

Speaking to newsmen here, he said after the by-election, he would visit New Delhi and get party high command's green signal for the expansion.

Underlining that BJP will win both the seats, Mr Yediyurappa said that there will be a lot of changes in politics after the results are announced. The BJP candidates in both the constituencies will win by a huge margin, he added.

He said there was no need to campaign for the by-elections being the Chief Minister, however, former prime minister HD Deve Gowda, Leader of the Opposition Siddaramaiah and former state CM HD Kumaraswamy have gone to campaign. It would be unfair if I have not campaigned for BJP candidates.

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