You are here: Home » PTI Stories » National » News
Business Standard

Shares of Future group companies zoom nearly 20 pc after Amazon-Future Coupon deal

Press Trust of India  |  New Delhi 

Shares of Future Group companies rallied on Friday after the CCI approved Amazon.com NV Investment Holdings' proposal to acquire about 49 per cent share in Future Coupons.

On the BSE, Future Enterprises settled at upper price band of Rs 26.55, up 19.86 per cent.

During the day, Future Consumer hit a high of Rs 29.10, up 14.79 per cent. It settled 8.88 per cent up at Rs 27.60.

Future Retail surged nearly 18.22 per cent to Rs 387.90. After shedding early gains, it closed 3.43 per cent up at Rs 339.35.

The stock of Future Lifetsyle Fashions rose 5.45 per cent to Rs 428.45. Later, it settled at Rs 409.25, up 0.73 per cent.

The Competition Commission of India (CCI) on Thursday said it has approved Amazon.com NV Investment Holdings' proposal to acquire about 49 per cent share in Future Coupons.

"The proposed combination pertains to the acquisition by the acquirer (Amazon) of approximately 49 per cent of the voting and non-voting equity shares of the target (Future Coupons Ltd)," a statement said.

A detailed order of the CCI will follow, it added.

Amazon.com NV Investment Holdings is a direct subsidiary of Amazon.com, Inc (ACI) and belongs to the Amazon group. ACI is the ultimate parent entity of the Amazon group, as per the statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 17:20 IST
RECOMMENDED FOR YOU