Deals
Amazon May Rival Walmart Effort for Flipkart Control, Mint Says
- Amazon has held exploratory talks for buying Flipkart
- Walmart in talks to buy 55% in India’s biggest online retailer
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Amazon.com Inc. may put in a rival bid to acquire Bangalore-based Flipkart Online Services Pvt. even as the Indian e-commerce market leader is in talks with Walmart Inc. for a majority stake sale, according to the Mint newspaper.
Amazon has held early exploratory discussions to buy Flipkart, the newspaper reported citing unidentified people, who said a deal with Walmart is more likely to go through. The world’s biggest retailer is closing in on acquiring 55 percent of Flipkart through a mix of primary and secondary share purchases that could value the Indian company at $21 billion, according to the report.