Report: Walmart sets sights on a big stake in Flipkart
A discount giant is eyeing what would be one of its biggest overseas deals.
Walmart is in talks to buy a stake of more than 40% in Indian e-commerce firm Flipkart. Due diligence is likely to begin as early as next week, according to Reuters.
Through the deal, which would give Walmart leverage to compete with Amazon in India, the retailer would buy new and existing shares in Flipkart.
The terms of the agreement weren’t revealed.
To read more, click here.
Walmart is in talks to buy a stake of more than 40% in Indian e-commerce firm Flipkart. Due diligence is likely to begin as early as next week, according to Reuters.
Through the deal, which would give Walmart leverage to compete with Amazon in India, the retailer would buy new and existing shares in Flipkart.
The terms of the agreement weren’t revealed.
To read more, click here.