Walmart Stores Inc. could buy upto 51 percent stake in Flipkart, according to a report the Economic Times reported citing sources. If it goes through, the deal will pit Walmart against Amazon in India, mirroring the fight between the two companies in the US.
Walmart could initially buy about 20-26 percent stake and then increase its shareholding to 51 percent in tranches, according the report.
Japanese conglomerate SoftBank Corp is one of the largest investors in the Bengaluru-based company.
