Amazon.com may offer to buy Flipkart, even as ecommerce major talks to Walmart

A deal with Walmart is more likely to go through, according to people with knowledge of the matter, a report said. Amazon declined to comment while Flipkart did not immediately respond to a request seeking comment. Walmart is in talks to buy a stake of over 40 percent in Flipkart, a direct challenge to Amazon in Asia`s third-largest economy

Amazon.com may offer to buy Flipkart, even as ecommerce major talks to Walmart
The deal with Walmart is expected to aid Flipkart in its fight against Amazon, which has committed to investing $5 billion in India as it expands aggressively. Image source: Reuters
Written By: Reuters
Updated: Wed, Apr 04, 2018
11:07 am
Reuters
RELATED NEWS
Govt rejects Flipkart's proposal for entering food retail sector Govt rejects Flipkart's proposal for entering food retail sector
Amazon, Flipkart issue: Stricter rules soon to regulate e-commerce; check out 8 that will make customer king Amazon, Flipkart issue: Stricter rules soon to regulate e-commerce; check out 8 that will make customer king
TDS deduction for big e-tailers, relief for small traders: FM TDS deduction for big e-tailers, relief for small traders: FM
This HDFC Bank Credit Card with Walmart link offers up to Rs 40,247 in savings! Can you get it? Find out This HDFC Bank Credit Card with Walmart link offers up to Rs 40,247 in savings! Can you get it? Find out

Amazon.com Inc may submit an offer to buy Indian e-commerce firm Flipkart, which is currently in talks with Walmart Inc for a stake sale, local daily Mint reported, citing sources.  A deal with Walmart is more likely to go through, according to people with knowledge of the matter, the report added. Amazon declined to comment while Flipkart did not immediately respond to a request seeking comment. 

Walmart is in talks to buy a stake of over 40 percent in Flipkart, a direct challenge to Amazon in Asia`s third-largest economy. The U.S. retailer will buy a majority stake through a mix of primary and secondary share purchases in a deal that could value Flipkart at $21 billion, the Mint report said. The deal with Walmart is expected to aid Flipkart in its fight against Amazon, which has committed to investing $5 billion in India as it expands aggressively, including into online grocery deliveries, which analysts tip as the next big battleground for the country`s e-commerce sector.

Flipkart, founded by former Amazon employees Sachin Bansal and Binny Bansal in 2007, controls nearly 40 percent of India`s online retail, ahead of Amazon, according to estimates by research firm Forrester.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.