Emails sent to Flipkart and Walmart did not elicit any response.
Walmart would maintain a focus on the grocery market, said the sources, suggesting that nearly 50% of Walmart's initial investment would be funneled into building a food and grocery supply chain.
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It is unlikely that Flipkart will agree to sign over such an extensive part of its shares to either party: only last month, Flipkart shareholder Softbank resisted Walmart's bid for just 30% of the Indian company.
Although Sachin's exit from Flipkart looks imminent, Walmart is holding on to Kalyan Krishnamurthy, the web retailer's present chief executive, TOI further said citing sources. Besides, Google parent Alphabet is also likely to participate in the deal. While co-founders of Flipkart reportedly willing to sell their stakes and may take an exit from the company, Google's entry in the Flipkart-Walmart deal will take on Amazon's supremacy in India. A batch apart in IIT-Delhi, they became friends as colleagues in Amazon before starting Flipkart in Bengaluru as an online bookstore back in 2007 before going on to become the country's pre-eminent e-commerce company.
Earlier this year it was reported that Amazon may submit a rival offer to buy the company, which now seems dead. But this week, according to a report by CNBC affiliate CNBC-TV18, the deal appears to not be quite final; Amazon has tendered a competing offer-complete with a $2 billion "breakup fee" to cover the cost of a potentially scuttled deal.
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Additionally, about 80 percent of vector control organizations lack critical prevention and control capacities. Data have shown that Zika , once thought to be a benign virus, has caused numerous birth defects in the U.S.
Walmart shares closed 0.13 percent lower Thursday on the New York Stock Exchange, while Amazon stocks closed higher by 2.39 percent on Nasdaq.
Amazon said it does not offer comments on rumours and speculation, and Flipkart did not immediately respond to a request for comment. The companies are each other's rivals in the U.S. as well. A spokesman for Walmart declined to comment.
Tiger Global, Accel, Microsoft, Naspers and Ebay continue to remain on the cap table of Flipkart. It is already the most valuable startup in India.
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The talks with Walmart for what could be its largest acquisition to date are still ongoing, and a deal is expected to be clinched soon, two people told Reuters on Wednesday.