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Shares of Future group companies zoom after Amazon-Future Coupon deal

December 1, 2019

stocks up getty

New Delhi: Shares of Future Group companies rallied in early trade on Friday after the CCI approved Amazon.com NV Investment Holdings’ proposal to acquire about 49 per cent share in Future Coupons.

Future Enterprises closed 19.86 per cent up at Rs 26.55 on the BSE.

Future Consumer hit a high of Rs 29.10.

Future Retail surged nearly 18.22 per cent to Rs 387.90.

Shares of Future Lifetsyle Fashions rose 5.45 per cent to Rs 428.45.

The Competition Commission of India (CCI) on Thursday said it has approved Amazon.com NV Investment Holdings’ proposal to acquire about 49 per cent share in Future Coupons.

“The proposed combination pertains to the acquisition by the acquirer (Amazon) of approximately 49 per cent of the voting and non-voting equity shares of the target (Future Coupons Ltd),” a statement said.

A detailed order of the CCI will follow, it added.

Amazon.com NV Investment Holdings is a direct subsidiary of Amazon.com, Inc (ACI) and belongs to the Amazon group. ACI is the ultimate parent entity of the Amazon group, as per the statement.

[“source=economictimes”]


Categories: shares