Kishore Biyani, founder of Future Group, is in talks with the world's largest e-commerce giant Amazon.com over an agreement that will provide Amazon an option to buy him out completely in the future, The Economic Times reported.

Both the sides are drafting call and put options in their agreement which will allow Amazon to buy out Future Retail Limited over the long term, possibly about 8-10 years, the report said citing multiple sources aware of the discussions.

Biyani and Amazon are all set to close the first leg of their agreement wherein Amazon will buy up to 9.5 percent stake in Future Retail, the operator of Big Bazaar store chains, through the foreign portfolio investment (FPI) route, the report said.

Both Biyani and an Amazon spokesperson told the newspaper that they don’t comment on speculation.

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First Published:Nov 27, 2018 10:08 AM IST