Amazon can ask regulators to block deal with Future Group, says Delhi HC
An Indian court allowed Amazon.com Inc.. to oppose Future Group’s $3.4 billion asset sale to Mukesh Ambani’s conglomerate but left it to local regulators to decide on the deal, in a mixed ruling for the US giant fighting Asia’s richest man for dominance in one of the world’s largest retail markets. The Delhi High Court said Monday it can’t bar the e-commerce giant from writing to regulators objecting to the indebted Indian retailer’s plan to sell its assets to Ambani’s Reliance Industries Ltd. The ruling by a single-judge bench can be challenged before a higher court. The court’s position neither bars nor allows the Future-Reliance transaction.