Walmart will likely end up with 60 per cent to 80 per cent of Flipkart, valued at about $20 billion, they said. The deal, if completed, will give Walmart a substantial foothold in an emerging market of 1.3 billion people. Flipkart’s board had seriously considered Walmart and Amazon as potential partners, but ultimately decided Walmart could close a deal more easily. The US retailer has been courting the Indian company since at least last year. That stake could be worth more than $4 billion at the Walmart deal’s valuation.

Source: Hindustan Times April 23, 2018 06:00 UTC