BSE To Consult Regulator On Future-Reliance Deal After Amazon Objection
India's Bombay Stock Exchange (BSE) will consult the market regulator and seek clarification from Future Group and Reliance Industries regarding their $3.4 billion transaction following Amazon's objection.
Amazon recently won an injunction from a Singapore arbitrator to halt Future Group's deal to sell its assets to Reliance Industries. Amazon asserted that Future Group breached contract provisions of an earlier deal.
Reuters reported that Amazon has written to capital markets regulator SEBI, in addition to BSE, and National Stock Exchange to put the Reliance-Future deal on hold in view of the arbitration order.