Stocks

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

PTI New Delhi | Updated on November 29, 2019 Published on November 29, 2019

Future Enterprises was up 18.96 per cent on the BSE

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 was trading 18.96 per cent up at Rs 26.35 on the BSE. Future Consumer hit a high of Rs 27.90, up 10.06 per cent. It gained as much as 14.79 per cent in early trade. Future Retail surged nearly 18.22 per cent to Rs 387.90. After shedding some gains, it was trading 13.61 per cent up at Rs 372.75.

Shares of Future Lifetsyle Fashions rose 5.45 per cent to Rs 428.45. Later, it was trading at Rs 413.35, up 1.74 per cent.

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.

Published on November 29, 2019
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