Flipkart, Walmart All Set To Announce World’s Biggest E-commerce Deal; Here’s All You Need To Know

The world’s largest retailer Walmart Inc is set to spend almost $15 billion to buy a stake of approx 70% in Flipkart in a deal which is likely to be announced today. According to Reuters, the deal is likely to value Flipkart roughly at $18-20 billion, is likely to be the US retail giant’s biggest acquisition. The deal will include a primary investment of up to $3 billion by Walmart against fresh equity to ramp up Flipkart’s size and scale.

With the fresh deal, Walmart would be looking to take on rivals Amazon outside its home turf in India. Even Google’s parent company Alphabet would also purchase approximately 5-15 percent stake in Flipkart. However, all eyes are on the public announcement which is expected today in the afternoon.