Future Group stocks surge 20% after CCI suspends Amazon deal

1 min read 20 Dec 2021, 09:58 AM IST Join us

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Amazon has for months successfully used the terms of its $200 million investment in Future to block the Indian retailer's attempt to sell retail assets

Shares of Future Retail jumped 18%Shares of Future Retail jumped 18%Future Group will merge some of its remaining businesses into Future Enterprises Ltd., Reliance Retail Ventures Ltd. said in a statement. (Mint) — Shares of Future Retail jumped 18%Shares of Future Retail jumped 18%Future Group will merge some of its remaining businesses into Future Enterprises Ltd., Reliance Retail Ventures Ltd. said in a statement. **(Mint)**

Indian shares fell on Monday as a surge in global Omicron COVID-19 cases threatened to roil economic recovery, while shares of Future Group companies jumped after the country's antitrust agency suspended its deal with Amazon.com.

The NSE Nifty 50 index fell 1.4% to 16,745 and the benchmark S&P BSE Sensex was down 1.4% at 56,235.04.

Shares of Future Retail jumped % after India's antitrust agency suspended Amazon.com's 2019 deal with Future Group on Friday, potentially denting the U.S. e-commerce giant's attempts to block the sale of Future's retail assets to Reliance Industries.

Amazon has for months successfully used the terms of its $200 million investment in Future to block the Indian retailer's attempt to sell retail assets to Reliance for $3.4 billion.

The Netherlands went into lockdown on Sunday and the possibility of more COVID-19 restrictions being imposed ahead of the Christmas and New Year holidays loomed over several European countries as the Omicron variant spreads rapidly.

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