Acquisition of Future Group, the owner of the Big Bazaar brand among others, is expected to give Reliance access to a third of India's organised retail market.
India's biggest telco, which has raised US$20 billion in capital in recent months from firms including Facebook and Google, is reportedly eyeing an investment in embattled TikTok.
Deal will give tech behemoth a chance to do-over its India plans, four years after its bruising Free Basics flop.
GLOBAL - Mobile gaming companies Reliance Big Entertainment and Rovio have made substantial investments in the space, with Reliance acquiring development companies in Japan and Korea and Rovio launching its own Angry Birds channel.
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