Steven Millward · · 1 min readIn brief: Amazon buys stake in India supermarket chain
Amazon and Indian private equity firm Samara Capital are making a joint investment that will give the online retail giant a stake in Indian supermarket chain More, the US company said on Thursday.
Source: Reuters
Amazon now has a stake in supermarket chain More, which has 540 stores across India. The terms of the deal were not disclosed.
With this retail move, Amazon may be looking to take its Prime Now service – currently available in four Indian cities – to a wider audience across the country.
This comes four months after Walmart acquired Flipkart, Amazon’s archrival in the Indian market.
In the US, Amazon owns grocery store chain Whole Foods.
Editing by Eileen C. Ang
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