Infosys co-founder Murthy plans India JV with Amazon - paper

Thu Jun 26, 2014 11:09pm IST

N.R. Narayana Murthy, Chairman Emeritus of Infosys, speaks during an interview with Reuters in Bangalore, February 28, 2012. REUTERS/Vivek Prakash/Files

N.R. Narayana Murthy, Chairman Emeritus of Infosys, speaks during an interview with Reuters in Bangalore, February 28, 2012.

Credit: Reuters/Vivek Prakash/Files

Stocks

   

REUTERS - Infosys Ltd co-founder N.R. Narayana Murthy is close to entering into an e-commerce joint venture in India with Amazon.com Inc through his investment firm, Catamaran Ventures, India's Economic Times reported.

Catamaran confirmed the planned venture with Amazon Asia, the business daily reported on Thursday.

Amazon and Catamaran were not immediately available for comment.

Catamaran will hold a 51 percent stake in the business, as required under India's foreign direct investment rules, the newspaper reported, citing sources.

Murthy built up Infosys into one of India's top outsourcing service companies. He stepped down as executive chairman of the company earlier this month.

(Reporting by Abhirup Roy in Bangalore; Editing by Ted Kerr)

FILED UNDER:

Reuters Showcase

Land Ordinance

Land Ordinance

Modi says willing to make changes in land decree  Full Article 

Sahara Salaries

Sahara Salaries

Some staff say Sahara has not paid salaries for months   Full Article 

DLF Fined

DLF Fined

DLF says reviewing $8.4 million SEBI penalty  Full Article 

Gold Demand

Gold Demand

India gold demand muted, eyes cut in import duty  Full Article 

Rail Budget

Rail Budget

Breakingviews - India goes back to future with $137 bln rail push  Full Article | Full Coverage 

Clean Energy

Clean Energy

India says clean energy a $160 billion opportunity over five years  Full Article 

Fall From Grace

Fall From Grace

How Sands fell from grace at Standard Chartered   Full Article | Related Story 

Buffett Annual Letter

Buffett Annual Letter

Buffett, a cheerleader for America, takes his checkbook abroad  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage