Reliance pulls a fast one on Amazon + unpacking the mystery of cash
The Mukesh Ambani-run company begins taking over Future’s stores though the courts are yet to decide and a slowing economy does little to stem money supply.
Why read this story?
Editor's note: Prince here. Suddenly, it looks like the long-running battle between Reliance Industries and Amazon over Future Retail may be coming to a conclusion. Earlier today, Amazon did very nearly raise a white flag in the Supreme Court. Was it because of what Reliance managed to pull over the last one week? Maybe. Something else caught our attention this week. No, not that the GDP is slowing down, but that despite a slower economy, cash in the hands of the public has seen a consistent rise. What explains that? Read on. Has RIL dealt Amazon a blow? It increasingly looks like Reliance Industries Ltd has pulled a fast one on Amazon in the fight over Future Retail Ltd. Over the last week, Reliance has taken control of over 200 stores that were run by FRL, even as the fight with Amazon to control the Kishore Biyani-owned company continues in the courts. How could Reliance, which may eventually take control of one-third of FRL’s 1,500 stores, do this when the courts are yet to give a final order? Before we delve deeper …
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