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Walmart in talks for major Flipkart stake

Feb. 16, 2018 4:12 AM ETWalmart Inc. (WMT) StockWMT, EBAY, AMZN, MSFT, SFTBF, TCTZF, TCEHY, SFTBY, FPKTBy: Yoel Minkoff, SA News Editor26 Comments
  • 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).

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