 "Flipkart")
Online e-commerce giant eBay is in talks to sell its under-performing India unit to Flipkart as part of a deal that could see the US company invest $500 million for a minority shareholding in the Indian firm.
The investment will be part of a $1.5-2 billion funding round, out of which Flipkart has already secured $1 billion from China’s Tencent and Microsoft. Flipkart is being valued at close to $11 billion for the latest funding round, lower than its previous high of around $15 billion.
Business Standard had reported about the merger talks between Flipkart and eBay India on March 21,
