Business

Amazon Looking To Trump Walmart To Buy Flipkart?

SHAHNAWAZ | 0
3605
| April 4 , 2018 , 17:37 IST

A report published by Livemint states that Amazon is looking forward to buying Flipkart, which is already in talks with Walmart for a majority stake.

The report suggests that Amazon has already initiated talks with Flipkart. A Mint report quoting insiders also states that while Amazon was wooing Flipkart the deal with Walmart was expected to go through.

Another report from Reuters quotes a person familiar with the matter stating that any possible deal with Amazon could spark concerns of monopoly as Amazon and Flipkart together dominate the e-commerce industry in India.

Also Read: Amazon Begins Global 'Restructuring', Lays Off 60 Employees In India

Reports suggest that the Walmart deal could take Flipkart’s valuation in the upwards of 20 billion dollars. The deal could also lead to Flipkart foraying into the offline market which both Flipkart and Walmart seem to be keen on.

Flipkart has had a long list of suitors from Google to Softbank. Google had reportedly offered to invest in Flipkart at a valuation of 15-16 billion USD. Last year Softbank announced a whopping 2.5 billion dollars investment in Flipkart.

In what was seen as a challenge to Amazon, Flipkart acquired eBay’s India business last year. It also acquired Jabong in a 70 million dollars all-cash deal. Snapdeal and future group too had shown interest in acquiring Jabong. Flipkart also attempted to acquire Snapdeal. However, despite months-long negotiations which at a point looked almost certain failed when the deal hit a roadblock.