Future Retail Bonds Tumble With Stocks After Reliance Deal Blow
- Court paused Future’s purchase by Reliance Industries Friday
- Future Retail’s bonds decline to lowest in almost a year
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Future Retail’s bonds and shares plunged after a top court on Friday halted an attempted purchase by billionaire Mukesh Ambani’s Reliance Industries Ltd.
The Mumbai-based supermarket operator’s bonds maturing in 2025 fell by 5.6 cents on the dollar to 57.9 cents, the lowest since Aug. 19 last year, Bloomberg-compiled data show. The company’s shares declined by its daily limit of 10%, while shares of five other companies of the Future conglomerate also slipped.