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Mukesh Ambani-led Reliance Industries is reportedly in talks to sell a minority stake in Reliance Retail, to US-based retail giant Walmart, a report by The Morning Context noted.
The development comes after Reliance Industries’ chairperson and managing director Mukesh Ambani, speaking at the 43rd annual general meeting (AGM) 2020, highlighted that its retail unit has received a “strong interest” from strategic and financial investors. However, Ambani did not emphasise on this topic further. But this was enough to hint that Reliance Retail could attract the next set of investors and global partnerships, after Reliance’s digital venture Jio Platform.
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