Will the market be worried about the Singapore court order stalling the RIL-Future group deal?

Reliance cracked on Monday and that was largely because Amazon won a favorable ruling to put the Future Group / RIL deal on hold. The impact was seen on the Reliance stock in the last few days as the stock lost close to 10% in anticipation of such an order.

However, Future Group has shrugged it off saying that there is no such deal with Amazon. They have denied that there was any right of first refusal given to Amazon and anyways it is restricted by the FDI limited.

Amazon had approached the Singapore Arbitration court to stop RIL from acquiring Future Group because as a shareholder in Future Coupons, Amazon stated that it had the right of first refusal. However, Future group is quit explicit that there was no such deal at any point.

In fact, the Future Group even confirmed that their deal to sell a stake to Reliance Industries was well and truly on. The only worry for the markets is if the stand-off between Reliance and Amazon continues longer. Already, the biggest losers in the process are minority shareholders of Future group.