Amazon in Talks to Buy a Nearly 10% Stake in India’s Reliance Retail

Amazon (NASDAQ: AMZN) is apparently trying to follow other global tech companies in partnering with Indian conglomerate Reliance Industries; Indian TV news channel ET Now reports that the e-commerce powerhouse is in negotiations to take a 9.9% ownership stake in its Reliance Retail operations.

Amazon has already invested billions of dollars in various Indian enterprises, and announced earlier this year it would spend as much as $1 billion to help that country's small businesses develop e-commerce platforms. If this new rumored deal comes to fruition, it would give the company a position in India's biggest physical retail chain.

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Source Fool.com