NEW DELHI (Reuters) – India’s Future Group will challenge a New Delhi court order that has blocked its $3.4 billion retail assets sale on objections of business partner Amazon.com Inc (NASDAQ:), a source told Reuters on Wednesday.
An Indian court blocked Future Group’s sale of a swathe of assets to rival Reliance Industries on Tuesday after Amazon raised objections to the deal, in a battle of the retail titans that could reshape the shopping sector.
The appeal against that order is set to be filed later on Wednesday in the court, the source said, declining to be identified.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.