Amazon May Rival Walmart Effort for Flipkart Control, Mint Says
(Bloomberg) -- Amazon.com Inc. may put in a rival bid to acquire Bangalore-based Flipkart Online Services Pvt. even as the Indian e-commerce market leader is in talks with Walmart Inc. for a majority stake sale, according to the Mint newspaper.
Amazon has held early exploratory discussions to buy Flipkart, the newspaper reported citing unidentified people, who said a deal with Walmart is more likely to go through. The world's biggest retailer is closing in on acquiring 55 percent of Flipkart through a mix of primary and secondary share purchases that could value the Indian company at $21 billion, according to the report.
India is seen as the next big potential prize after the U.S. and China with Kotak Institutional Equities estimating the online market may reach $28 billion by 2020. The e-commerce battle in India has intensified as the burgeoning market lures global giants.
Flipkart and Amazon did not respond to requests for comment by the newspaper, according to the report.
Existing investors in Flipkart such as Tiger Global Management LLC, Accel Partners, Naspers Ltd. and IDG Ventures are among those expected to sell much or all of their shares in India's biggest online retailer, according to the report.
To contact the reporter on this story: Debjit Chakraborty in New Delhi at dchakrabor10@bloomberg.net.
To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net, Candice Zachariahs
©2018 Bloomberg L.P.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
