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Mirae Group CEO Kishore Biyani likens Amazon’s bid to a “relentless” Alexander the Great stalled retail transaction

Indian Group CEO Kishore Biyani said in an internal employee memo seen by Reuters that Amazon is trying to prevent the sale of Future Group’s $3.4 billion (approximately Rs 24,788 crore) retail assets, similar to Alexander the Great’s “cruel ambition.”

Amazon has been involved in a protracted legal dispute with Future, accusing the Indian company of breach of contract and last year agreed to sell its retail assets to Reliance Industries. The future denies doing something wrong.

The two parties traded a barb in a court in New Delhi this week, which is the latest legal case in which Amazon tried to block the transaction. India’s second-largest retailer said the deal is critical to the survival of its 1,700 stores and thousands of employees.

On Friday night, employees of Biyani e-mailed that it was a company battle “competing for customer supremacy in India” and that Amazon “played a dog in a manger.”

He did further research on Amazon, and he said: “Controversial lawsuits and harassment have surprised people at the similarities between their ruthless ambitions and Alexander the Great in Greece-after all, they were inspired to name their products Alexa.”

“History tells us that Alexander conquered most of the world, but failed in India.”

The military actions of the Macedonian leader greatly expanded the status of the Greek-speaking empire throughout the Middle East and parts of Asia, ushering in the Greek era until his death in present-day Iraq in 323 BC.

Amazon declined to comment on Biyani’s memo, which is often referred to as the king of retail in India because it has changed the retail industry in India in recent decades.

In a recent court case, Amazon also asked the judge to detain Biani in a civil prison on the grounds that his company “deliberately” violated the Singaporean arbitrator’s October order to put the transaction on hold.

Future insists that the arbitration order is not binding.

The company’s lawyers said on Friday that Amazon was trying to block the deal because it would make it difficult for the American company to compete with Reliance, which is owned by Mukesh Ambani, one of the richest people in Asia. Mukesh Ambani), the latter is rapidly expanding into the e-commerce field.

Future’s lawyer Harish Salve said: “Amazon is only interested in Reliance should not improve in India.” The next court hearing will be on Monday.

Although Amazon has repeatedly asked regulators to block transactions, the Indian Stock Exchange still approved Future and Reliance transactions this month.

Biani said in the memorandum: “We have a firm foothold in the law and this is proof of approval.”

Thomson Reuters 2021 ©


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