Wal-Mart in talks to buy stake in Indian online retailer Flipkart - sources



Wal-Mart Stores Inc (WMT.N) is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two people familiar with the matter said, as the world's biggest retailer aims to break into a fast growing but highly competitive online retail market.
One of the sources said the U.S. retailer was looking to invest between $750 million (576.13 million pounds) and $1 billion in Flipkart, but the final value and size of the stake would depend on the outcome of talks about the Indian company's overall valuation.
A deal would pit Wal-Mart against U.S. rival Amazon.com Inc (AMZN.O),... read more

 
29 September 2016 in Business, Views: 36
Source: Reuters
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