Bad news for Amazon as Ambani's RIL seizes the future of retail in India

In the end, Mukesh Ambani settled the dispute over who gets to own the assets of beleaguered Future Retail not in an arbitration tribunal in Singapore, or in a Delhi courtroom, but in a shopping aisle

In the end, Indian billionaire Mukesh Ambani settled the dispute over who gets to own the assets of beleaguered Future Retail Ltd. not in an arbitration tribunal in Singapore, or in a courtroom in New Delhi, but in a shopping aisle.

Future Retail had been subleasing store space from the tycoon’s Reliance Industries Ltd. Indeed, it was kept operating only on Ambani’s forbearance because Future couldn’t come up with the rent. But with Amazon.com continuing to block Reliance’s $3.4 billion purchase of Future’s assets, Ambani decided to make the acquisition a fait accompli: He terminated the leases and is taking control