Google, Alibaba and Amazon vie for future giant group stakes

Amazon, which lost out to Walmart in its acquisition of Flipkart, is now training for Future Group, one of the country’s largest offline retailers. According to Business Standard, the US tech giant has started formal talks with Kishore Biyani’s company to buy a 12-15 per cent stake for about $600-700 million (approximately Rs 4.2-4.9 billion). .

According to anonymous sources cited by the report, the two countries have signed a term sheet, suggesting the two countries have formalized an agreement to further talks. In fact, the initial talks call for a maximum equity stake of 15%, but the report states that the amount “may be increased,” and that if an agreement is reached, it is likely to be a combination of cash and stocks. There is.

However, neither party has confirmed the media reports. Future Group denied signing the term sheet, while Amazon declined to comment on the matter, the report added. But Biyani recently said his company is very likely to sign a deal with a foreign investor by the end of the year, although he declined to reveal the identity of the prospective investor.

Meanwhile, Amazon may not be Future Group’s only suitor, with other reports suggesting another US tech giant is interested in the Kishore Biyani-led retailer. According to ET , Google is looking to invest between Rs 3,500 crore and Rs 4,000 crore as part of its partnership with Paytm Mall, which is partly owned by Chinese tech giant Alibaba.

All parties refused to confirm or deny the report. Biyani denied knowledge of the Google-Alibaba consortium, but spokespeople for Paytm, Alibaba and Google declined to comment when contacted by the newspaper.