Walmart to invest several billion dollars for 20% stake in Flipkart: Report

An alliance with Walmart would give Flipkart additional capital and retail muscle to fight back against the rising competition

Walmart Inc is in discussions to pay several billion dollars for as much as 20 percent of India e-commerce leader Flipkart Online Services Pvt, according to a person familiar with the matter.

The world’s biggest retailer would invest in Flipkart as part of a proposed deal that would increase the startup’s valuation as high as $20 billion, said the person, asking not to be identified because the matter is private. Flipkart’s valuation had been about $12 billion, according to researcher CB Insights. The talks are at an advanced stage, but terms could still change and the deal may not be finalized,