Amazon may buy Flipkart

Amazon.com Inc may submit an offer to buy Indian e-commerce firm Flipkart, which is currently in talks with Walmart Inc for a stake sale. The deal with Walmart is more likely to go through, according reports to Mint.

Walmart is in talks to buy a stake of over 55 per cent in Flipkart, which a direct challenge to Amazon in Asia’s third-largest economy. It is planning to buy Flipkart through through a mix of primary and secondary share purchases in a deal that could value Flipkart at $21 billion.

Amazon is the largest Internet retailer in the world as measured by revenue and market capitalization, and second largest after Alibaba Group in terms of total sales.