Jan 31: The e-tailing business has been on an uptrend in the Indian scenario, with players doing all they can to stay on top. In the midst of various developments, it has been reported that US retailer Wal-Mart Inc is gearing up to buy minority stake in the home grown e-commerce firm Flipkart.
News reports said that that Wal-Mart could buy a stake as minor as 15-20 percent in Amazon.com Inc’s main competitor in India. Though Wal-Mart spokesman Randy Hargrove has been quoted as saying that the company would not want to comment on rumors and speculations, it is being said that a deal has been finalized by Flipkart investors and that it may involve primary and secondary sales in March.
Flipkart too has made no comments so far. It needs to be noted that precisely two years back there were reports that hinted that Wal-Mart was keen on pumping in between $750 million and $1 billion in an Indian e-commerce company.