(Bloomberg) -- Future Retail Ltd.’s dollar bond jumped and shares rose after a Mumbai-based stock exchange said it had no negative views on certain topics regarding Reliance Industries Ltd.’s 247.1 billion rupee ($3.4 billion) acquisition of the indebted retailer.
The company’s note due January 2025 surged 9.4 cents on the dollar to 89.5 cents, climbing the most in over four months after nine straight sessions of losses, according to Bloomberg-compiled prices. Its shares advanced as much as 5.9%, the most in about two months.
The letter dated Jan. 20 from the BSE Ltd. said that based on comment from the Securities and Exchange Board of India, the BSE “has no adverse observations” to matters having a bearing on the planned acquisition.
The proposed deal is key for Future Retail to survive a hit from the fallout of the coronavirus pandemic. India’s antitrust regulator had already approved the acquisition in November, but Future’s partner Amazon.com Inc. had called for it to be blocked, saying that it violated its contract with the company.
Read why Amazon is feuding with a retailer acquired by Ambani
(Updates first and second paragraph with details on share price move.)
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
