India’s largest online retailer, Flipkart, which was founded by two former Amazon employees is expected to spark a bidding war. Walmart, which has made an offer, and Amazon which is expected to counter it, are both understood to be keen to acquire the business which has annual sales of approximately £2bn and is growing apace. Walmart’s offer would give it a 60 per cent stake and three seats on the Flipkart board, with Alphabet taking a 15 percent stake for a mooted £2.2bn. A deal is expected to be struck within the next few days.
Share