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Big news The US company claimed to buy Flipkart.


Big news The US company claimed to buy Flipkart.

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By the end of June, the Indian e-commerce company is expecting Wal-Mart to finalize the deal to buy a majority stake in Flipkart. This will be the biggest deal in America's largest online business by Walmart, sources familiar with the development said.

Wal-Mart proposes to pay $ 10-12 billion to buy 51 percent or more in Flipkart.

Following the deal, Walmart's junk in the e-commerce market with Amazon.com will be raging, as Morgan Stanley estimates that the Indian e-commerce market will be worth $ 200 billion in a decade. Amazon is considering offering a related offer to Flipkart, reports said.

Walmart will buy Flipkart's new and existing shares. The value of the new shares of a Bangalore-based company is estimated at around $ 12 billion, while the existing shares are valued at $ 12 billion, sources said.

Japan's Soft Bank Group has a 20% share in Flipkart through its Vision Fund. Soft Bank Group is not likely to sell its shares due to the lower the amount offered for the existing shares.
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According to a previous report, if the deal is decided, initial investors like Tiger Global, Excel and Naspars will sell their stake to Walmart.

The deal has not been finalized yet and there is ongoing discussions between Walmart, Flipkart and its investor, sources said.

Flipkart inspires eBay, Tancet Holdings and Microsoft as well as others as its investors.

Wal-Mart is known as the world's largest retailer for its superstars and if a deal with Flipkart is opened, a huge Indian market will open for it.

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