Walmart clinch $7 billion Flipkart deal

Walmart set to clinch $7 billion Flipkart deal in India push

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Walmart set to clinch $7 billion Flipkart deal in India push.

In a major India push, Bentonville, Arkansas-based retail giant Walmart Inc. is in discussions to spend at least $7 billion to become the largest investor in India’s leading e-commerce company, Flipkart. This move will put Walmart in competition with Amazon.com Inc. is one of the most promising online retail markets.

Walmart plans to buy about a third of Flipkart Online Services Pvt, in part by purchasing stakes from Tiger Global Management and SoftBank Group Corp.

The deal may push the valuation of Flipkart to about $20 billion up from $12 billion last year. The talks are at a critical stage and may wrap up this month.

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