MUMBAI -- Reliance Retail Ventures, an arm of billionaire Mukesh Ambani-run Reliance Industries, announced on Saturday that it plans to buy Indian retail pioneer Future Group's units for 247.13 billion rupees ($3.37 billion).
Business deals
Ambani's Reliance buys India's Future Group businesses for $3.4bn
Acquisition sets up showdown with Amazon over country's 1.3bn consumers
Future Group has long been a leader in India's modern retail industry. In recent years, the group has been battling competition from up-and-coming players including e-commerce companies. © Reuters
Read Next
Latest on Business deals
