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Business deals

Amazon wins interim arbitration order against Reliance-Future deal

Indian conglomerate vows to complete $3.4bn acquisition 'without any delay'

A Reliance store in Mumbai. The Indian conglomerate run by the country's richest man Mukesh Ambani is expanding its retail business.   © Reuters

NEW DELHI/MUMBAI (Reuters) -- A Singapore arbitration panel has put on hold Future Group's $3.38 billion asset sale to Reliance Industries, an interim win for Amazon.com, which had alleged the deal between the Indian firms breached existing agreements.

Amazon received an emergency order to halt the companies from proceeding with the deal until an arbitration tribunal is formed, a source with direct knowledge of the matter told Reuters.

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