Apr 28, 2022
Indian billionaire Mukesh Ambani plans bid for Boots, reports say
Indian billionaire Mukesh Ambani is reportedly planning a takeover bid for the UK high street chain Boots. Under the plan, Reliance and Apollo would reportedly own stakes in Boots, although it was not clear whether they would be equal partners in the business. Boots - which has more than 2,200 pharmacies, health and beauty stores in the UK - could be valued at as much as £6bn.The Walgreen Boots Alliance, Reliance and Apollo did not immediately respond to BBC requests for comment. Last year, Reliance Industries bought the historic British country club Stoke Park for £57m.The future of the 173-year-old Boots business has been in question for months. The owners of UK supermarket group Asda - brothers Mohsin and Zuber Issa and private equity firm TDR Capital - have also reportedly made an initial bid for Boots.
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