Walmart close to US$12b plus deal for Flipkart

Bangalore

WALMART Inc is close to finalising a deal to buy a majority stake in India's leading e-commerce company for at least US$12 billion and may complete the agreement in the next two weeks, according to people familiar with the matter.

All the major investors in Flipkart Online Services Pvt are now on board with the Walmart purchase, after an earlier debate over an Amazon.com Inc acquisition, said the people, asking not to be named because the matter is private.