Walmart Favored Over Amazon to Buy India's Flipkart

Walmart Inc. looks likely to take the next round in the battle for India’s retail market over rival Amazon.com Inc.

Flipkart Online Services Pvt, the country’s leading e-commerce company, is leaning toward selling a controlling stake to the Bentonville, Arkansas-based company, rather than Amazon, because of the greater certainty in such a deal, according to people familiar with the matter. Both U.S. companies are bidding for a controlling stake in Flipkart at a valuation of about $20 billion, said the people, asking not to be identified because the matter is private.