Walmart in talks to buy 40% of Flipkart's Stakes
Walmart in talks to buy 40% of Flipkart's Stakes

The U.S retailer Walmart Inc is planning to get a stake of more than 40% in the Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia's third-largest economy, sources familiar with the matter said.

In the expectations of biggest overseas deal, Walmart is looking at buying new and existing shares in Flipkart and the due diligence is likely to begin as early as next week, the sources said. They declined to be named as the talks were private.

There is a possibility that Flipkart would be valued at more than the $12 billion figure given when Japan's SoftBank Group Corp's Vision Fund took roughly a fifth of the firm last year for $2.5 billion, they added.

Among the present investors of Flipkart, there is U.S. hedge fund Tiger Global Management, China's Tencent Holdings Ltd, online marketplace eBay Inc and software giant Microsoft Corp.

 
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