Amazon Makes 60 percent stake Acquisition Offer In Flipkart

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.