Amazon Makes 60 percent stake Acquisition Offer In Flipkart

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.
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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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