Flipkart said to be leaning towards selling stake to Walmart over Amazon

If completed, the deal would give Walmart a major stake in an emerging market of 1.3 billion people

Walmart Inc. looks likely to take the next round in the battle for India’s retail market over rival Amazon.com Inc.

Flipkart Online Services Pvt, the country’s leading e-commerce company, is leaning toward selling a controlling stake to the Bentonville, Arkansas-based company Walmart, rather than Amazon, because of the greater certainty in such a deal, according to people familiar with the matter. Both US companies are bidding for a controlling stake in Flipkart at a valuation of about $20 billion, said the people, asking not to be identified because the matter is private.

Flipkart’s board recently met to discuss the competing