Reliance in talks to buy Hamleys

New Delhi, April 17 

Mukesh Ambani-led Reliance Industries is in talks to buy centuries-old British toy retailer Hamleys as the company expands its presence in the consumer space, sources said.

Currently, Reliance Industries’ retail arm Reliance Retail has the licence to sell Hamleys’ products in India.Reliance Industries is said to be aggressively pursuing the deal and due diligence for buyout is in advanced stages, sources said. When contacted, Reliance declined to comment on the issue.

“As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis,” a RIL spokesperson said. — PTI