Amazon Makes 60 percent stake Acquisition Offer In Flipkart
BY - Vaishnavi Gupta
Assistant Editor, IndianRetailer.com & Retailer Media May 02, 2018 /
/ 1 MIN READ
Assistant Editor, IndianRetailer.com & Retailer Media May 02, 2018 /
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Amazon.com Inc has formally offered to buy a 60 percent stake in Indian online retailer Flipkart CNBC reported citing sources.
Amazon also offered Flipkart a breakup fee of $2 billion and is likely to be on par with Walmart Inc's bid for the e-commerce company, CNBC TV-18 reported.
Reuters in April reported that Walmart was likely to reach a deal to buy a majority stake in Flipkart by the end of June.
Representatives at Amazon, Flipkart and Walmart were not immediately available for comment.
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