Walmart is looking to buy a 15% to 20% stake in Indian e-commerce firm Flipkart.
The US retailer has held intermittent talks with the Amazon rival over the past two years, sources familiar with the matter told Reuters. The two inked a non-disclosure pact in 2016 that was renewed last year and a deal could be finalised as early as March.
Last year, Japan’s SoftBank Group invested nearly $2.5 billion in Flipkart through both primary and secondary investments. Flipkart also pulled in $1.4 billion from Tencent, eBay and Microsoft.