Flipkart acquisition by either Walmart or Amazon will make India a key battlefront in the fight between the two American retail giants. In late 2016, initial talks between Walmart and Flipkart stalled and Flipkart went on to raise $3 billion in two rounds of funds from Tencent, SoftBank, eBay and Microsoft. But as Flipkart’s talks with Walmart progressed, Flipkart’s bankers reached out to Amazon again last month, the people said. Walmart is already in talks to buy 55% of Flipkart through a mix of primary and secondary share purchases in a deal that could value Flipkart at $21 billion. A buyout of Flipkart by either Walmart or Amazon will make India a key battlefront in the fight between the two American retail giants.

Source: Mint April 05, 2018 02:03 UTC