Walgreens defers Boots UK sale; Reliance to look for other opportunities

RIL will continue to look for growth opportunities overseas if good opportunities arise, said company insiders

American retail major Walgreens Boots Alliance on Tuesday said it would retain its pharma retail business —  Boots UK — thus abandoning the entire sale process. The company did  not make any comment specifically on the offer made by Mukesh Ambani-owned Reliance Industries (RIL), which had made a bid for the company last month.

“As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company. Consequently, WBA has decided that it is in the best interests of shareholders to