Walmart Could Buy Majority Of Flipkart – The Biggest Indian Deal…
Flipkart is in a big battle with Amazon in India and Walmart is in a big battle with Amazon in US and several other parts of the world. Walmart which has been really keen to enter Indian retail for a long time is looking to take a majority ownership of at least 51% in Flipkart, still the leading E-Commerce company in India despite a growing threat from Amazon. There are reports that with this majority purchase, Flipkart’s valuation could double to nearly Rs. 130,000 crore. Flipkart founders and long list of backers including Softbank, the Japanese technology company and employees would selling privately and publicly to facilitate Walmart’s entry. With this, the Indian E-Commerce marketplace and competition is likely to heat and become more intense with consumers becoming the biggest winners! The impact on shopkeepers and suppliers could be tough but harder to predict.
Source: TOI
- 22 Mar 2018
- WerIndia
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