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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
an Indian oil company is buying a British toy store the tail makes more sense when you know the shopping question is Hamleys famed worldwide and the boa is reliance industries a joint firm best known for oil but settled becoming a consumer champion to the families change is currently owned by Chinese group C. by the international , the toys tools for just over one hundred and thirty million dollars in twenty fifteen families has one hundred and sixty seven outlets in eighteen countries , but see banner has since gone cool on British acquisitions it dropped plans to buy fifty one percent off department store chain house of Fraser sending the group into administration , in twenty eighteen it wrote down the value of Hamleys to about ninety million dollars , reliance is paying just a little less than that in the new deal just small change for a minimal cash and bony India's richest man for him the deal is all about reducing reliance's dependence on oil it's known for operating the world's largest single location crude refinery but it's venturing into retailing and telecoms with a string of new ventures reliance brands chief dosh and made to us is the Hamleys deal puts it into quote the front line over global retail , six will also gift shops all the right target low famous schools around the world %HESITATION shutting down all scaling back as online competition grows ever more fierce