BENGALURU -- Amazon's bid to block the merger of two Indian retailing rivals has taken a dramatic turn after local regulators slapped the U.S. e-commerce giant with a $26 million fine for allegedly "hiding the actual scope" of its own deal involving one of the companies.
Reliance Industries, which operates India's largest retail chain, agreed in August 2020 to buy the retail, wholesale and logistics arms of Future Group, the country's second-largest retailer, for 275 billion rupees ($3.6 billion).
