Reliance Industries. Shutterstock.
Amazon has requested $40 million to forego its right of first refusal to buy Future Group’s assets, the Economic Times reported. It is alleged to be the US retail giant’s latest move in a battle with Future Group over the latter’s proposed mega-deal to sell its retail and logistics assets to Indian conglomerate Reliance Industries, which was announced last year.
In a submission made to the Singapore International Arbitration Centre, Future Group claimed Amazon asked for “$40 million as compensation in exchange for the Future Group and Reliance proceeding with the disputed transaction.”