- In what would be one of its biggest overseas deals, Walmart (NYSE:WMT) is in talks to purchase a stake of more than 40% in Indian e-commerce firm Flipkart (FPKT), a direct challenge to Amazon (NASDAQ:AMZN) in Asia's third-largest economy.
- According to Reuters, Flipkart would be valued at more than the $12B figure given when SoftBank's (OTCPK:SFTBY) Vision Fund took roughly a fifth of the firm last year for $2.5B.
- Existing investors in Flipkart also include eBay (NASDAQ:EBAY), Microsoft (NASDAQ:MSFT) and China's Tencent (OTCPK:TCEHY).