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Walmart close to buying 51% stake in Flipkart, deal likely by June: Sources

The deal is expected to be between $10 bn to $12 bn

Reuters  |  Hong Kong/Mumbai 

Walmart Inc is likely to reach a deal to buy a majority stake in Indian e-commerce player Flipkart by the end of June in what could be the US retail giant's biggest acquisition of an online business, two people with direct knowledge of the matter said. Reuters reported last week that Walmart completed its due diligence on Flipkart and had made a proposal to buy 51 per cent or more of the Indian company for between $10 billion to $12 billion. A deal with Flipkart would step up Walmart's battle with for a bigger share of India's fledgling e-commerce market, ...

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First Published: Thu, April 12 2018. 15:48 IST