Stocks Down for Reliance and Future Retail after Halt in Deal

Stocks fell for Reliance and Future Retail by 3.65% and 5.01% respectively at BSE after the asset sale was halted by an arbitration panel. Amazon, which holds a 7.3% stake and 'Contractual rights' in the Future Retail initiated arbitrary proceedings as Reliance decided to buy the business of Future Retail for $3.38 billion. However, Future Retail said, “It was not party to the agreement under which Amazon had invoked arbitration.”