Walmart set to buy Flipkart |
US-based retail major Walmart Inc is close to sealing a deal wherein it could pick up anywhere between 60 and 80 per cent stake in Indian e-commerce market leader Flipkart in a transaction that could value the Bangalore-based online retailer at an estimated $15-20 billion. The deal, which is learnt to be in its final stages, would mark the largest investments in the country`s e-commerce sector and would make India the biggest emerging market where three of the largest global retailers, Walmart, Amazon and China`s Alibaba, would be pitted against each other. For Walmart, which has so far failed to make big inroads into markets outside the US, the deal could come as an opportunity to allocate resources in one of the fastest growing e-commerce markets in the world and also expand its retail operations in the country that have hitherto been restricted to the cash and carry segment. Analysts predict that Walmart could also leverage its logistics, supply chain and retail sourcing experience to improve Flipkart`s operations for the company to compete better against its rival Amazon India.
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