Walmart in talks for major Flipkart stake

• In what would be one of its biggest overseas deals, Walmart (NYSE:WMT) is in talks to purchase a stake of more than 40% in Indian e-commerce firm Flipkart (Private:FPKT), a direct challenge to Amazon (NASDAQ:AMZN) in Asia's third-largest economy.
• According to Reuters, Flipkart would be valued at more than the $12B figure given when SoftBank's (OTCPK:SFTBY) Vision Fund took roughly a fifth of the firm last year for $2.5B.
• Existing investors in Flipkart also include eBay (NASDAQ:EBAY), Microsoft (NASDAQ:MSFT) and China's Tencent (OTCPK:TCEHY).
• Now read: On-The-Ground Evidence Walmart Facing Fierce Grocery Price Competition

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