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Indian retail chains merge to cut costs, raise capital

Wednesday, May 6, 2015 - 05:50

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Indian grocery chain Future Retail extended its five-day rising streak after announcing a merger with billionaire Sunil Mittal's Bharti Retail to reduce costs and get cheaper loans.

Mumbai

INDIAN grocery chain Future Retail extended its five-day rising streak after announcing a merger with billionaire Sunil Mittal's Bharti Retail to reduce costs and get cheaper loans.

Two companies will be formed as a result of the merger, Future said in a statement on Monday

sentifi.com

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