American business Titan Walmart is now in early phase to initiate a deal with Indian E-Commerce site Flipkart to take down their common rival, Amazon in India. Also, this step could be a major step which would help Walmart in putting itself firmly in the Indian market.
The news is being spread by two individuals that are directly connected to both the parties. The meeting for taking the deal to an initial start is scheduled to in this week itself. The discussion would be upon taking few stakes of flipkart, the largets e-commerce portal of India.
Similar actions from Walmart are seen previously in China, where the company bought 5% stake of second largest e-commerce site of China, JD.com for $1.5 Billion.
Walmart and Flipkart's spokesperson have denied to comment on such rumours or speculations.
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