Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Walmart in talks to buy its minority stakes in India’s Flipkart

Walmart in talks to buy its minority stakes in India’s Flipkart

U.S. based world’s biggest retailer, Walmart Stores Inc is in advanced talks to acquire a significant minority stake in leading Indian e-commerce marketplace Flipkart, financial daily the Economic Times reported on Tuesday. The deal could be finalised by March, it said. 

Chief executive officer of Walmart, Doug McMillon led a delegation that visited Flipkart's Bengaluru office early last week as a part of this exercise. The other members of the team included Walmart e-commerce CEO Marc Lore, founder of that was acquired by Walmart in 2016, and Judith McKenna, who will take over as president and CEO of Walmart International on February 1. She's currently its chief operating officer. 

Walmart refused to comment. "As a policy, we don't comment on market speculation," a spokesperson said, adding that McMillon had been in the country to review the cash and carry business, global technology centre and global sourcing- its three units. Flipkart also refused to comment. 

The strategic deal would be a fitting reply by Wal-Mart against its U.S. rival Inc, which is expanding rapidly in a market that Bank of America Merrill Lynch has estimated to reach a staggering $220 billion in value of goods sold by 2025 from about $11 billion last year.

Walmart had teamed up with Japanese e-commerce company Rakuten last week. Walmart will start selling Aura-branded e-readers made by Kobo, a division of Rakuten, in stores and online at as part of the deal. Kobo is one of the Amazon Kindle's competitors.

Flipkart, launched in 2007 by two former Amazon employees, sells everything from cell-phones to suitcases and cosmetics. Tiger Global Management and Accel Partners are its present investors..

A Wal-Mart bet on Flipkart would come at a time when Amazon is planning an aggressive expansion into India.


Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...