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Walmart-Flipkart deal talks on, no conclusion yet, say sources

The deal, which is likely to be carried out in tranches, will include purchase of primary and secondary shares, one of the sources said

Press Trust of India  |  New Delhi 

Walmart, US, jobs, retail
Photo: Reuters

US-based is in discussion with to buy stake in the company, a deal that is expected to value the Indian firm at about $20 billion, sources close to the development said.

According to the sources, is in talks to buy shares from and its investors. The contours of the deal, which is yet to reach a conclusive stage, are still being worked out.

The sources declined to be identified as the matters are private.

The deal, which is likely to be carried out in tranches, will include purchase of primary and secondary shares, one of the sources said.

Another person said, early investors like could look at a complete exit from the company post the transaction.

declined to comment, while a response could not be elicited from

Last year, Vision Fund had pumped in an estimated $2.5 billion in The Bengaluru-based firm had also raised funds from eBay, and last year.

The deal, if it goes through, would unlock the booming Indian market for the world's largest For Flipkart, it would provide more arsenal to go up against rival, in the Indian market.

and are locked in an intense battle for leadership in the Indian market and have pumped in billions of dollars towards marketing and setting up infrastructure in the country.

There have been reports of being in discussion with the rival for a possible acquisition, though there has been no formal announcement on that.

Industry watchers said a deal between and is more likely since Flipkart-joining forces would face scrutiny by the competition watchdog, in

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 16:50 IST
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