Walmart-Flipkart deal on track, but will Amazon pull a googly?

A person close to the developments with whom Business Standard spoke said that the term sheet for Walmart to invest in Flipkart was close to being finalised

Even as Walmart’s bid to invest in Indian e-commerce giant Flipkart at a $20 billion valuation is nearing closure, the stage is still open for other investors to jump in and make a counter bid as no term sheet has been signed yet.

On Wednesday, Livemint reported that Amazon may submit a rival offer to buy Flipkart and has held early exploratory talks with regard to the same. However, the newspaper said that the deal between Flipkart and Walmart was more likely to go through.

A person close to the developments with whom Business Standard spoke said that the term sheet for