Future Group stocks surge 20% after India suspends 2019 Amazon deal

Future Lifestyle Fashions

20/12/2021 03:52

BENGALURU, Dec 20 (Reuters) - Shares of India's Future Group
companies surged 20% on Monday after the country's antitrust
agency suspended Amazon.com's  AMZN.O  2019 deal with the group
in a potential blow to the U.S. e-commerce giant's attempts to
block the sale of Future's retail assets to Reliance  RELI.NS .
    Amazon has for months successfully used the terms of its
$200 million investment in Future to block the Indian retailer's
attempt to sell retail assets to Reliance for $3.4 billion.
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 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695;))