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 flipkart walmart deal wil promote loss funding predatory pricing cait
flipkart-walmart deal wil promote loss funding, predatory pricing: cait

Traders' body CAIT today demanded scrutiny of the proposed $12-billion Flipkart-Walmart deal, claiming that it will promote loss funding and predatory pricing in e-commerce sector.
It is really unfortunate that in spite of having a clear FDI policy, foreign companies are finding an escape route, whether it is in retail or e-commerce, Confederation of All India Traders (CAIT) said in a statement.
The traders' body took a strong objection to the Walmart-Flipkart deal and demanded the government to form a regulatory authority for e-commerce and till the authority is formed, no such deal should be allowed.
The comments assume significance as global retail giant Walmart is inching closer to sealing the deal to buy a majority stake in Flipkart for as much as $12 billion, even though rival

flipkart-walmart potential deal underpins gap in india's retail market

As the deal which could see US retail giant Walmart investing as much as $10 billion for a majority stake in Indian e-commerce major Flipkart nears fruition, all eyes are focused on how Walmart executes its online-to-offline plan in the country. Considered to be a major proponent of the deal, Walmart is looking at Flipkart as a partner not just to combat rival Amazon in the e-commerce space, but also as a way for it to make inroads into India’s underpenetrated offline retail market. Sources privy to information of the deal confirm that Walmart is pushing to acquire 51 per cent stake in Flipkart over a period of time. The deal will provide exits to several of the company’s early investors such as Accel Partners, Tiger Global, Naspers and IDG Ventures. “It’s going to be great for guys like A

amazon offers to buy 60% stake in flipkart, but walmart still ahead

American e-commerce major Amazon has formally entered the battle for Flipkart, a move that may slow down rival Walmart’s effort to buy a controlling stake in the Bengaluru-headquartered firm. Sources indicated that Amazon, which aggressively competes with Flipkart in the India market, has put in a matching bid along with a $2-billion breakaway fee. While a competing bid could possibly raise Flipkart’s valuation, thereby helping investors, Walmart is learnt to be determined to strike a deal with India’s e-commerce poster boy.Amazon has offered to buy a 60 per cent stake in Flipkart. If the bid is accepted, the combined entity would more than dominate the country’s online retail market, a reason for the Competition Commission of India (CCI) to step in.
An Amazon India spokesperson said the

flipkart board said to have okayed $15-bn deal to sell 75% stake to walmart

The board of Flipkart Online Services Pvt has approved an agreement to sell about 75 per cent of the company to a Walmart Inc.-led group for approximately $15 billion, according to people familiar with the matter, an enormous bet by the American retailer on international expansion.
Under the proposed deal, SoftBank Group Corp. will sell all of the 20-plus per cent stake it holds in Flipkart through an investment fund at a valuation of roughly $20 billion, said the people, asking not to be named because the matter is private. Google-parent Alphabet Inc. is likely to participate in the investment with Walmart, said one of the people. A final close is expected within 10 days, though terms could still change and a deal isn’t certain, they said.
That would seal a Walmart triumph over Amazon.c

walmart, ebay fresh round of talks likely for $12 bn deal with flipkart

As Flipkart waits to close its $12 billion stake sale to Walmart, a fresh round of talks might happen between the US-based retail giant and global e-commerce giant eBay to figure out issues related to merchants.
According to a recent article in Recode, Walmart might have to negotiate with eBay if it wants to do business over the next few years. eBay has invested $500 million in Flipkart and holds a 5 per cent stake in the company.
Under the deal, Flipkart is allowed to sell merchandise from certain merchants at eBay for four years. Walmart, which has competing merchants in the same category, will have to either wait for four years or negotiate with eBay. Sources said the talks might happen over the next few days.
The top brass from Walmart, eBay, Tiger Global, and SoftBank Group have

flipkart board approves $15 bn deal with walmart: report

Indian e-commerce giant Flipkart has agreed to sell 75 percent of the company to US retail behemoth Walmart for about $15 billion, a report said Friday, in what would be a blow to rival Amazon.

flipkart investment: how walmart hopes to hit two birds with one stone

As its investment in Flipkart nears fruition, Walmart is not only looking at the deal as a way to take on its arch nemesis Amazon in India, but is also fulfilling its dream of playing in the vast and untapped offline retail sector in the country. A partner like Flipkart will allow Walmart to play in India’s offline retail space that largely continues to be served by small unorganised retailers. For Flipkart, the deal could help it tap a much broader base of consumers, helping it grow faster and stay ahead of rival Amazon. “E-commerce will continue to grow at a certain rate, but for these players to grow faster, they will have to assimilate and co-opt the offline environment as well. When investors are asking them to grow faster, they’re going to have to address the 95 per cent of the pie,”

flipkart said to be leaning towards selling stake to walmart over amazon

Walmart Inc. looks likely to take the next round in the battle for India’s retail market over rival Amazon.com Inc.Flipkart Online Services Pvt, the country’s leading e-commerce company, is leaning toward selling a controlling stake to the Bentonville, Arkansas-based company Walmart, rather than Amazon, because of the greater certainty in such a deal, according to people familiar with the matter. Both US companies are bidding for a controlling stake in Flipkart at a valuation of about $20 billion, said the people, asking not to be identified because the matter is private.
Flipkart’s board recently met to discuss the competing proposals and thinks Walmart could close a deal more quickly and smoothly, the people said. Walmart faces fewer regulatory hurdles because it has no online retail p

walmart set to acquire india's flipkart with 73% stake for $14.6 billion

Walmart is gearing up to buy Flipkart in a $14.6-$16 billion deal, according to a recent report.Walmart would gain a 73% share in the company, and most of its initial investment is expected to go towards a grocery supply chain.Alphabet Inc. may be contributing $3 billion to the investment.Walmart Inc. is seeking to acquire Flipkart with a 73% stake in the company, according to a report from FactorDaily. The US retail conglomerate is tipped to spend at least $14.6 billion, and as much as $16 billion, in the cash-and-stock buyout of the Indian e-commerce company.“Everything has been finalized… the papers have been signed by both the parties,” a source told FactorDaily, following negotiations yesterday.The sources indicated that Walmart had valued Flipkart at between $20 and $22 billion. Goog

amazon may offer to buy flipkart to counter walmart's bid: report

Amazon.com Inc may make a rival offer to buy Indian e-commerce firm Flipkart, which is in tie-up talks with Walmart Inc, local media reported, as the two US retail giants jostle for dominance in India’s booming online industry.Amazon held early exploratory talks to buy control of Indian rival Flipkart but a deal with Walmart is more likely, daily newspaper Mint said on Wednesday, citing people with knowledge of the matter. One person familiar with the matter told Reuters that the probability of a deal with Amazon was low, and that any such deal could spark monopoly concerns as Flipkart and Amazon dominate India’s e-commerce market. The person declined to be identified as discussions were private.Amazon declined to comment when contacted by Reuters. Flipkart and Walmart did not respond to r

walmart to invest several billion dollars for 20% stake in flipkart: report

Walmart Inc is in discussions to pay several billion dollars for as much as 20 percent of India e-commerce leader Flipkart Online Services Pvt, according to a person familiar with the matter. The world’s biggest retailer would invest in Flipkart as part of a proposed deal that would increase the startup’s valuation as high as $20 billion, said the person, asking not to be identified because the matter is private. Flipkart’s valuation had been about $12 billion, according to researcher CB Insights. The talks are at an advanced stage, but terms could still change and the deal may not be finalized, said the person. The e-commerce battle in India has intensified in the past year as global competitors have zeroed in on the country’s potential -- and market leader Flipkart.Amazon.com Inc. founde

walmart in talks to buy 40% in flipkart; due diligence to start next week

Walmart Inc is in talks to purchase a stake of more than 40 per cent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com in Asia’s third-largest economy, two sources familiar with the matter said on Friday. In what would be one of its biggest overseas deals, the US retailer is looking at buying new and existing shares in Flipkart and due diligence is likely to begin as early as next week, the sources said. They declined to be named as the talks were private. Terms under discussion were not immediately available, but Flipkart would be valued at more than the $12 billion (Rs 771.72 billion) figure given when Japan’s SoftBank Group’ Vision Fund took roughly a fifth of the firm last year for $2.5 billion (Rs 160.775 billion), they added. A spokesman for Flipkart said the compa

flipkart close to sealing $12-bn deal with walmart: pact in two weeks

Walmart Inc. is close to finalizing a deal to buy a majority stake in India’s leading e-commerce company for at least $12 billion and may complete the agreement in the next two weeks, according to people familiar with the matter.
All the major investors in Flipkart Online Services Pvt are now on board with the Walmart purchase, after an earlier debate over an Amazon.com Inc. acquisition, said the people, asking not to be named because the matter is private. Tiger Global Management will sell nearly all its 20 percent stake in Flipkart, while SoftBank Group Corp. will offload a substantial part of its 20 percent-plus holding, the people said. Walmart will likely end up with 60 percent to 80 percent of Flipkart, valued at about $20 billion, they said.
Among the issues still to be resolved

rumors of investment from walmart could see flipkart valued at $20 billion

Rumors suggest Walmart is close to a deal for up to 20 percent of Indian e-commerce giant Flipkart.This would reportedly value Flipkart at around $20 billion.While not finalized, the deal is thought to be at an advanced stage.In a move that would put the company’s valuation at around $20 billion dollars, rumors suggest that Walmart Inc. is considering buying a stake of up to 20 percent in India e-commerce giant Flipkart.According to a Bloomberg source, the deal would cost Walmart several billion dollars and while nothing has yet been confirmed and the terms are not set in stone, they are getting towards the final stages of a deal.The move comes just months after Japanese company SoftBank Group offered to buy shares in Flipkart that valued the company at $9-10 billion. Flipkart has also rec

flipkart board approves walmart's $15 bn offer to buy 75% stake

The Flipkart board has given its approval to a deal that will see US retail giant Walmart picking up close to 75 per cent in the Bengaluru-headquartered company with an investment of around $15 billion, putting to rest months of speculation surrounding the largest deal in the country’s fast-emerging Internet sector.
The deal could be formalised as early as next week, with the signing of the papers, said a highly-placed source privy to the discussion.
“Some of the finer details of the deal are still being worked out, but it would be announced next week,” the person added.
SoftBank, the largest investor in Flipkart, will cash out its stake of over 20 per cent for close to $4 billion, said another person with a direct knowledge of the deal.
The Japanese investment giant had invested

flipkart board okays walmart's $15 bn offer; softbank, tiger global to exit

The Flipkart board has given its approval to a deal that will see US retail giant Walmart picking up close to 75 per cent in the Bengaluru-headquartered company with an investment of around $15 billion, putting to rest months of speculation surrounding the largest deal in the country’s fast-emerging Internet sector.
The deal could be formalised as early as next week, with the signing of the papers, said a highly-placed source privy to the discussion.
“Some of the finer details of the deal are still being worked out, but it would be announced next week,” the person added.
SoftBank, the largest investor in Flipkart, will cash out its stake of over 20 per cent for close to $4 billion, said another person with a direct knowledge of the deal.
The Japanese investment giant had invested

by buying stake in flipkart, walmart wants to achieve these 3 lofty targets

The world’s biggest retail chain Walmart has set three clear targets while trying to pick up a controlling stake in Bengaluru-based Flipkart, sources aware of the developments said. Through Flipkart, the American major is looking for the first real entry into the promising Indian retail market after having dabbled in cash-and-carry or business-to-business (B2B) operations for about a decade. Also, it plans to take the Flipkart model to the US to pep up its e-commerce business that has disappointed investors. More than anything else, it wants rival Amazon to burn much more cash in the India market to compete with Walmart-backed Flipkart. In the American market too, the deal could give some stress to Amazon currently facing the US administration’s attack on the company.
In the run up to th

by buying stake in flipkart, walmart wants to achieve these 3 lofty targets

Walmart, the world’s biggest retail chain, has set three clear targets while trying to pick a controlling stake in Bengaluru-based Flipkart, sources aware of the developments said. Through Flipkart, the American major is looking for the first real entry into the promising Indian retail market after having dabbled in cash-and-carry or business-to-business (B2B) operations for about a decade. Also, it plans to take the Flipkart model to the US to pep up its e-commerce business, which has disappointed investors. More than anything else, it wants rival Amazon to burn much more cash in the India market to compete with Walmart-backed Flipkart. In the American market too, the deal could give some stress to Amazon, currently facing the US administration’s attack.
In the run-up to the acquisition

flipkart nears $7-bn walmart investment deal, valuation to reach $20 bn

Walmart Inc. is in discussions to spend about $7 billion to become the largest investor in India’s leading e-commerce company, according to people familiar with the matter, a move that would put the US retailer in competition with Amazon.com Inc. in one of the most promising online retail markets. The Bentonville, Arkansas-based retail giant plans to buy about a third of Flipkart Online Services Pvt, in part by purchasing stakes from Tiger Global Management and SoftBank Group Corp., said the people, asking not to be identified because the talks are private. The deal may push the valuation of the homegrown startup to about $20 billion, the people said, up from about $12 billion last year. The talks are at a critical stage and may wrap up this month. It’s also possible specifics such as the

walmart in talks to buy 40% in flipkart; due diligence to start next week

Walmart Inc is in talks to purchase a stake of more than 40 per cent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia's third-largest economy, two sources familiar with the matter said on Friday. In what would be one of its biggest overseas deals, the US retailer is looking at buying new and existing shares in Flipkart and due diligence is likely to begin as early as next week, the sources said. They declined to be named as the talks were private.

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Flipkart board okays Walmart's $15 bn offer; SoftBank, Tiger Global to exit
The Flipkart board has given its approval to a deal that will see US retail giant Walmart picking up close to 75 per cent in the Bengaluru-headquartered company with an investment of around $15 billion, putting to rest months of speculation surrounding the largest deal in the country’s fast-emerging Internet sector.
The deal could be formalised as early as next week, with the signing of the papers, said a highly-placed source privy to the discussion.
SoftBank, the largest investor in Flipkart, will cash out its stake of over 20 per cent for close to $4 billion, said another person with a direct knowledge of the deal. This pegs the valuation of Flipkart on the secondary market at around $20 billion, higher tha

$12-bn flipkart-walmart deal: investors expect to strike rich

Tiger Global’s reward for being one of the oldest investors in e-commerce giant Flipkart could be $4 billion. With Walmart Inc. being close to finalising a deal to buy a majority stake in the Bengaluru-based e-commerce firm for at least $12 billion, investors are expecting to strike it rich. Flipkart’s founders Sachin Bansal and Binny Bansal, if they sell a substantial part of their 11 per cent stake, could make close to $1 billion each. However, sources said the two might not exit the firm. The windfall would mark the biggest payout given to any investor of Indian start-ups in the past 15 years. According to industry analysts, early-stage investors including Tiger Global, Accel Partners, and Naspers are set to earn between $1.2 billion and $4 billion once the Walmart-Flipkart merger goes

amazon bids for 60% stake in india's flipkart: report

Amazon has made a big for India's online retailer Flipkart, putting it in competition with Walmart for e-commerc dominanceAmazon has made a formal offer to acquire a controlling stake in Indian e-commerce giant Flipkart, putting it in contention with Walmart, according to a report Wednesday on Indian network CNBC TV18.
Amazon offered to buy 60 percent of Flipkart, which places the bid on a par with an offer from Walmart, according to the station, an affiliate of CNBC.Amazon has offered a $2 billion breakup fee as part of its bid, the report said. The company did not immediately respond to AFP's request for comment.News of the bid is the latest sign that the competition between Amazon and Walmart for retail leadership is expanding well beyond the United States, where both companies are ba

flipkart goes private in singapore ahead of walmart deal

In a move seen as a precursor to US retail giant Walmart acquiring a majority stake in Flipkart, the Indian e-commerce player has bought back shares worth $350 million from investors in its Singapore-based parent to regain private limited status in the country.Flipkart bought 1,895,574 redeemable preference shares and 174,319 non-redeemable preference shares from investors for $350.46 million, according to documents the Bengaluru-based company filed with the Singapore authorities and sourced by business intelligence platform Paper.vc. The transaction was closed on April 27.
Among the investors who sold their shares in this exercise were Shekhar Kirani, Deep Nishar, and IDG Ventures.
Apart from these investors, several pension funds exited Flipkart through the buyback at $169.31 per sha

news digest walmart flipkart bid nclt binani row epfo hack and more

Amazon offers to buy 60% stake in Flipkart, but Walmart still ahead
American e-commerce major Amazon has formally entered the battle for Flipkart, a move that may slow down rival Walmart’s effort to buy a controlling stake in the Bengaluru-headquartered firm. Sources indicated that Amazon, which aggressively competes with Flipkart in the India market, has put in a matching bid along with a $2-billion breakaway fee. While a competing bid could possibly raise Flipkart’s valuation, thereby helping investors, Walmart is learnt to be determined to strike a deal with India’s e-commerce poster boy. Read MoreNCLT Kolkata bench orders Binani lenders to consider UltraTech plan
The Kolkata bench of the National Company Law Tribunal on Wednesday ordered the resolution professional of Binani Cement

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