Amazon wants a preferred, strategic stake in Reliance Retail for JioMart, according to tweets by the television channel.
#ETNOWMegaExclusive | World's richest man #JeffBezos and 5th richest man #MukeshAmbani are believed to be in talks… https://t.co/9og2dwnajc
— ET NOW (@ETNOWlive) 1595497918000
JioMart, the e-commerce venture of Reliance's retail arm, was launched in May and poses a formidable challenge to Amazon.com's local unit and Walmart Inc's Flipkart.
An Amazon spokeswoman through email said the company does not comment on speculation, while Reliance did not immediately respond to a request for comment.
Reliance, controlled by Asia's richest man, Mukesh Ambani, has raised around $20 bln since late April for its digital arm, including from Alphabet Inc's Google and Facebook Inc.
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