The Amazon corporation is nearing a deal to acquire 10% of India's Future Retail, Bloomberg reports, allowing the US behemoth to move in one of the world's fastest-growing retail markets.

Future Retail is India’s second-biggest retailer and is privately owned and run by billionaire Kishore Biyani. The company operates 2,000 stores in 400 Indian cities and a 10% share of the company is currently valued at €250 million. Amazon is said to be negotiating an option to buy a bigger share in time.

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