Indian company Walmart, ready to buy Flipkart, reached the final stage
Business Channel Bloomberg reported that Flipkart Online Services has signed an agreement to sell its 75% stake in Wal-Mart's Leadership Group for $ 15 billion.
New Delhi: Walmart, the retail sector giant, plans to buy Flipkart, India's giant e-commerce company, in its final phase. This highly ambitious plan is likely to be worth $ 12 billion. The negotiation of the acquisition deal reached its final phase. Sources say that its official announcement can be done in the next few days.
A close source from the developments said that Walmart could buy a 72-73% stake in Indian company. It was also said that the deal has been finalized. This will be allowed from the Board of Directors of both the companies. The formula refused to disclose its identity because the conversation is still going on and it is confidential.
Business Channel Bloomberg reported that Flipkart Online Services has signed an agreement to sell its 75% stake in Wal-Mart's Leadership Group for $ 15 billion.
The interesting thing is that if this deal is done then the world's three legendary racers will be fighting against each other in the Indian market. Let us tell you that besides the American company Amazon, Chinese company Alibaba is already doing business in this sector in India. In this case, if another American company like Walmart buys a large part of Flipkart, then it will be interesting to see what happens to customers.
Walmart's weakness is that he has not been able to get his feet out of America. In such a way, Buying Flipkart in the world's largest e-commerce market like this can prove to be the wing of the company's flight in this area. Analysts associated with the market say that Wal-Mart can shift from Flipkart's products to services in American colors to give tough competition to the Amazon.
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