BENGALURU (Reuters) - Amazon.com Inc <AMZN.O> said on Wednesday it has sent a legal notice to a promoter of Future Group, alleging the Indian retailer breached the terms of its contract by signing a deal with Mukesh Ambani's Reliance Industries <RELI.NS>.
The online retail giant last year acquired a 49% stake in Future Coupons Ltd, the promoter entity which owns a 7.3% interest in Future Retail <FTRL.NS>, the operator of more than 1,500 stores in India including grocery chain Big Bazaar.
Amazon's investment in Future Group came with contractual rights that include a right of first refusal and a non-compete-like pact, a source told https://ift.tt/2Syf35A ET Now, which first reported the news.
The e-commerce firm, in its legal notice, cited a contract arrangement that included "a restricted list" of companies Future was not supposed to enter deals with, ET Now said.
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