Amazon.com Inc. may put Bangalore-based Flipkart Online Services Pvt. Even the Indian e-commerce market leader is in talks with Walmart Inc. for a sale of a stake, according to the Mint newspaper.
Who said a deal with Walmart is more likely to go through. The world's largest retailer is in the process of acquiring $ 55.5 billion
India is seen as the next big potential prize after the US 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
Existing investors in Flipkart searches for Tiger Global Management LLC, Accel Partners, Naspers Ltd. and IDG Ventures are among those expected to sell all or most of their shares in India's largest online retailer.