Deals
Wal-Mart Is in Talks to Invest Up to $1 Billion in Flipkart
- The deal would help the companies battle Amazon.com in India
- Investors most recently valued Flipkart at about $16 billion
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Wal-Mart Stores Inc. is in advanced discussions to invest as much as $1 billion into India’s Flipkart Online Services Pvt, an alliance that could help the companies battle Amazon.com Inc. in e-commerce, according to a person familiar with the matter.
Wal-Mart, the world’s largest retailer, would take a minority stake in Flipkart under the proposed agreement, the person said, asking not to be identified because the matter is private. Final terms of the deal haven’t been worked out and negotiations are still underway, the person said. Flipkart’s most recent valuation was about $16 billion, according to research firm CB Insights.