Billionaires are vying for Metro’s Indian wholesale unit: Report

Charoen Pokphand Group Co. and Reliance Industries Ltd. are among suitors for German retailer Metro AG’s wholesale operations in India, according to people familiar with the matter, as the companies seek to deepen their retail portfolio in one of the world’s largest consumer markets.

The Thai conglomerate controlled by tycoon Dhanin Chearavanont and its Indian counterpart backed by billionaire Mukesh Ambani have submitted non-binding bids, the people said. Amazon.com Inc., whose founder Jeff Bezos is the world’s second richest man, is also considering lodging an offer, the people said.

Metro has been working with advisers on a potential sale of the Indian business, which could fetch a valuation of $1 billion to $1.2 billion, according to one of…