Amazon to buy 9.5% stake in Biyani's Future Retail; deal likely in 10 days

If the deal is through, this would be the third investment by the US-based company in the Indian brick-and-mortar retail ecosystem

Online retailer Amazon is in advanced stage of talks to buy around 9.5 per cent stake in Kishore Biyani-led Future Retail, according to sources.
 

A final shape to an agreement between the two parties is expected to take place within the next 10 days, the sources said although in case of last minute hurdles the deal could be announced as late as January 2019.
 

When contacted, Amazon declined to comment while messages sent to Future Group founder and Group CEO Kishore Biyani remained unanswered by the time of filing story.
 

According to a media report, the Amazon-Future Group deal is