Reliance offers Amazon $20-billion stake in retail arm: Report

The report comes a day after RIL announced that US private equity firm Silver Lake Partners would buy a 1.75 per cent stake in Reliance Retail for Rs 7,500 crore

Mukesh Ambani-led oil-to-telecom conglomerate Reliance Industries Ltd (RIL) is offering to sell roughly $20 billion worth of stake in its retail arm, Reliance Retail, to Amazon, BloombergQuint reported on Thursday, citing Bloomberg News. Amazon has held talks about investing in Reliance Retail and expressed interest in negotiating potential deals, according to the report.

The shares of RIL were up 4 per cent in mid-day trading on the BSE. The company had earlier on Thursday become the first listed Indian firm to cross $200 billion in market capitalisation.

Amazon did not immediately respond to a Reuters request for