Takeover Of Stores By Reliance "Has Come As A Surprise"

Future Retail

16/03/2022 11:00

March 16 (Reuters) - Future Retail Ltd  FRTL.NS :
    * FUTURE RETAIL LTD -  REMAIN COMMITTED TO TAKE ALL ACTION
AS
NECESSARY TO SEEK VALUE ADJUSTMENTS, REVERSAL OF TAKEOVER OF
STORES  BY RELIANCE GROUP
    * FUTURE RETAIL LTD -  TAKEN STRONG OBJECTION OF RELIANCE'S
ACTIONS, ASKED RELIANCE TO RECONSIDER ALL OTHER ACTIONS
INITIATED OVER LAST FEW DAYS
    * FUTURE RETAIL LTD -  BOARD HAS TOLD RELIANCE STORE
INFRASTRUCTURE, INVENTORY ARE HYPOTHECATED AS SECURITY IN FAVOUR
OF LENDERS
    * FUTURE RETAIL LTD -  TAKEOVER OF STORES BY RELIANCE "HAS
COME AS
A SURPRISE" TO FUTURE RETAIL, ITS BOARD

Source text for Eikon:  ID:nBSE2566Zt 
Further company coverage:  FRTL.NS 

 ((Reuters.Briefs@thomsonreuters.com;))