Amazon last year bought a 49% stake in Future Coupons Pvt Ltd., which owned 2.7% of Future Retail as of December, according to Bombay Stock Exchange data. As part of the Future Coupon agreement, Amazon has an option to acquire Future Coupon’s shares in Future Retail from the third year of the deal. Representatives for Amazon and Future Group declined to comment. Future Retail has used about half of an emergency credit facility for working capital, Bloomberg News reported last week. Shares of Future Retail fell 4.9% in Mumbai on Wednesday, extending their year-to-date loss to 79%.

Source: Hindustan Times May 07, 2020 04:56 UTC