Amazon may rival Walmart with bid to buy India’s Flipkart: Mint

Amazon may make an offer to buy Indian e-commerce giant Flipkart, an Indian newspaper reported Wednesday.

Flipkart can be already in advanced talks with Walmart to sell a majority stake to the U.S. retailer yet Amazon has held its own exploratory discussions to buy the company, India’s Mint newspaper said on Wednesday.

Citing two unnamed sources with “direct knowledge of the matter,” Mint reported more details about talks between Flipkart along with also also Walmart. The sources said that will Walmart can be looking buy 55 percent of Flipkart through a mix of primary along with also also secondary share purchases that will could value the firm at $21 billion.

A deal with Walmart can be more likely to succeed, sources told Mint.

Amazon declined to comment when contacted by CNBC. Flipkart along with also also Walmart were not immediately available for comment.

Last year, SoftBank’s Vision Fund invested in Flipkart via a mix of primary along with also also secondary capital. The deal saw the Japanese tech giant’s $100 billion investment fund become one of the largest shareholders in Flipkart. SoftBank was not immediately available for comment when contacted by CNBC.

You can read the full Mint report here.

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