The stakes are high between Jeff Bezos and Mukesh Ambani in their fight over a near bankruptcy company
Two of the world’s richest men, fighting over a near-bankrupt Indian retailer, have made so much noise that its board has woken up super cranky. In less than a week, the three independent directors of Future Retail NSE 0.10 % Ltd. have shot off two letters to the country’s competition authority, alleging that Amazon.com had deliberately misled the regulator about the true nature of its 2019 investment in a related entity. They want the antitrust watchdog to cancel the transaction.
If the gambit succeeds, Asia’s wealthiest businessman, Mukesh Ambani, may be able to get his hands on Future’s retail stores after all, a deal Amazon boss Jeff Bezos has so far managed to block using judicial proceedings. A scrapping of Amazon’s investment would leave the U.S. retailer with no valid contract to stop the sale of assets to Ambani.