Indian firm Reliance Industries joins race for Boots takeover


India’s Reliance Industries has appeared as another potential bidder for UK chemist Boots.

The firm joins TDR Capital, which owns supermarket chain Asda, a consortium of CVC Capital Partners and Bain Capital, and US investment firm Apollo in the race to acquire the high street retailer.

Reliance is in the early stages of exploring a bid and there is no guarantee that the company, owned by billionaire Mukesh Ambani, will confirm one going forward.

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