Amazon offers to buy 60% of Flipkart
Amazon has made an official offer to acquire a 60% stake in Flipkart. The company has even proposed a $2 billion breakup fee to prove its commitment on seeing out the deal. The offer is said to be on par with the bid submitted by Walmart recently worth $12 billion.
Walmart plans to retain Flipkart's current structure (including company's current CEO Kalyan Krishnamurthy) while Amazon has made no such promises and wants to sign a non-compete deal with Flipkart's founders. Jeff Bezos refused to comment on the report.
Anyway, Flipkart's investors and founders are leaning towards Walmart's bid and the Sachin Bansal (Flipkart's founder) has already been in the US to negotiate with Walmart's execs. Walmart's team, on the other hand, is expected to visit India to close the deal.
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Reader comments
- Shinjy
- 09 May 2018
- K3e
That does not matter. It is interesting.
- smash
- 05 May 2018
- Af9
Thats how east india company started
- Bob007
- 03 May 2018
- 7t$
Well I have ordered stuff online from Walmart ,they are quite cheaper than Amazon and faster shipping ,I think it's better Flipkart goes to Walmart and hoping Flipkart get access to stuff from Walmart stores in USA ,so we can cut down third party sh...
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