Ecommerce major Amazon has offered to buy 60% stake in Flipkart. According to reports, Amazon Inc has formally made the offer.
Amazon’s offer came at a time when talks about Walmart-Flipkart deal are still intact.
The Jeff Bezos-led company also offered Flipkart a breakup fee of $2 billion and is likely to be on par with Walmart Inc’s bid for the e-commerce company.
Presently, Walmart is planning to acquire majority stake in Flipkart and it has already offered to buy the shares of major stakeholders of the company,including that of SoftBank.
The talks between Flipkart and Walmart are going smooth till now and the deal will be finalized by June 2018.
However, latest offer from Amazon might help Flipkart to negotiate a better deal with Walmart, said sources.
Flipkart has been the leader in Indian ecommerce sector for last few years. The company, which has a complex operational structure, is backed by a number of key investors. Walmart may also buy the stake of the its founders, Sachin Bansal and Binny Bansal.