India: Reliance Industries in talks to acquire Urban Ladder, Milkbasket


India’s Reliance Industries Ltd is in talks to buy online furniture retailer Urban Ladder and milk delivery firm Milkbasket to strengthen its e-commerce business, the Times of India newspaper reported on Monday.

The oil-to-telecoms conglomerate’s talks with Urban Ladder are at an advanced stage, the report said, citing four unnamed sources briefed on the matter. A deal could be pegged at around $30 million, it said, citing here one of the sources.

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