RIL's massive cash chest to help take on PE suitors for Boots retail chain

Has already acquired online medicine seller NetMeds in India; Boots deal will help it launch NetMeds overseas, bring offline retail chain to India, say analysts

Reliance Industries, which is in the race to acquire Europe based pharmacy retailer, Boots chain for $9 billion, has a massive cash chest and financial flexibility to mount an aggressive bid for the company, say analysts. RIL has already acquired NetMeds, an online medicine seller, in India and Boots acquisition will help it to launch NetMeds overseas and bring the offline retail chain to India, say analysts.

Boots will be the first big ticket investment attempt by the Ambani company after its unsuccessful foray into the US shale gas market. Quoting unnamed sources, Bloomberg reported last week that talks are