Get the app today! Download iPhone App Download Android App

Walmart Close To Buying Majority Of India's Flipkart - Sources

Published on Apr 12 2018 9:29 AM in Retail tagged: Trending Posts / Walmart / Flipkart / Paywall

Walmart Close To Buying Majority Of India's Flipkart - Sources

Walmart Inc. is likely to reach a deal to buy a majority stake in Indian e-commerce player Flipkart by the end of June in what could be the US retail giant's biggest acquisition of an online business, two people with direct knowledge of the matter said.

Reuters reported last week that Walmart completed its due diligence on Flipkart and had made a proposal to buy 51% or more of the Indian company for between $10 billion to $12

A deal with Flipkart would step up Walmart's battle with for a bigger share of India's fledgling e-commerce market, which Morgan Stanley estimates will be worth
$200 billion in a decade. Local media have reported that Amazon is exploring a possible counter offer for Flipkart.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on LinkedIn Share on Tumblr Share via Email