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Report: Walmart in talks for major $7 billion deal in India

Walmart is reportedly in discussions to become the largest stakeholder in Flipkart, one of the leading e-commerce companies in India.

The discount giant is looking to buy about a third of Flipkart, in part by purchasing stakes from existing investors Tiger Global Management and SoftBank Group Corp., Bloomberg reported. The deal was put at about $7 billion.

If finalized, the transaction would give Walmart a major stake in India’s emerging e-commerce market of 1.3 billion people, the report said, with Walmart’s investment driving Flipkart’s value to around $20 billion.

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