Reuters exclusively reported that Reliance Industries, India’s biggest conglomerate—run by Mukesh Ambani, the country’s richest man—presses ahead with a shock de facto takeover of prized retail real estate that Inc has been keen to take part-ownership of. The high-profile, bitter dispute between the corporate titans, in which Amazon has sought to block Reliance’s planned $3.4 billion purchase of Future Group’s retail assets, is currently before India’s Supreme Court. Analysts say Amazon had gravely underestimated Reliance.

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