3 C
Thursday, November 30, 2023
HomeBusinessIndian billionaire Mukesh Ambani is definitely interested in purchasing Boots. He had...

Indian billionaire Mukesh Ambani is definitely interested in purchasing Boots. He had previously considered the Chelsea FC bid.


Related stories

Online Encounters: The FabGuys.com UK Login Conundrum

In the realm of digital connectivity and modern interpersonal...

Privacy Breach Shocks Corinna Kopf’s Online Realm

In an era where personal privacy is often compromised...

Where To Party In London?

Well, London is a popular place for its nightlife,...

Cable Management is Critical for Business

Cables make the world go round. With the rise...

Time Keeping Importance In Your Company

Working entails many benefits that the employees should have...

BusinessLive was told by BusinessLive that Indian billionaire Mukesh ambani is interested in purchasing the high-street Boots business. He had previously considered, but then dropped, a bid to buy Chelsea FC. According to a source, Mr. Ambani is interested in establishing a foothold in the UK because of its transparent regulations. After Roman Abramovich, the owner of Chelsea, was sanctioned by government officials for his links to Russian President Vladimir Putin, they said that he had considered buying Chelsea. The Chelsea sale will be concluded in May. Todd Boehly and Sir Martin Broughton are the remaining candidates to the Stamford Bridge helm. Reliance Industries, owned by Mr Ambani, has denied that it was plotting to take over BT UK.

According to the Financial Times Reliance has partnered with Apollo in New York on a deal which could lead to Boots opening across Asia and India. BusinessLive was informed by Reliance Industries that four representatives visited Boots’ headquarters in Nottingham as well as its London offices to conduct “due diligence”, before reporting back to the Mumbai board.

According to the source, it was a courtesy visit but confidential. Two of the members of the team were from an accountants firm in London. “They said it was a very fruitful visit, and that they would report back to the board. “The business also did due diligence on Chelsea. However, they chose to withdraw from that. They visited the Department for Digital, Culture, Media & Sport, and the financial advisors to Chelsea. “A meeting was held in a hotel and golf course that Reliance has outside London. “They were also interested in BT last year, but nothing happened – I believe some of that business was too tightly linked to the UK. They are interested in a UK presence as well as a presence on UK stock exchanges.

“The thing that appeals to them about this country is not banking or insurance but our regulatory system – knowing you can invest and that regulators will do what is right to protect your interests. “The Boots team reported back that they were optimistic about the visit. “If they don’t buy Boots, they will continue looking because this country still has a lot of things to offer.”

According to reports, Boots, which has more than 2,200 UK shops, could be worth as high as PS6 billion. Final bids have to be received by mid-May for the high street pharmacy chemist, according to reports. The billionaire Issa brothers, and TDR Capital are reported to be involved in the Asda takeover. Sky News reported however that an initial frontrunner, a joint offer by Bain Capital Partners and CVC Capital Partners had been withdrawn.

SEO Journalist, covering live and breaking news in United Kingdom.She also reports on the latest political news, social issues, treanding lifestyle and sports.She is passionate about making sure the region's stories get the very best coverage.


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories



Please enter your comment!
Please enter your name here