The Wall Street journal reported that Wal-Mart Stores Inc. is in discussions with Flipkart Ltd., India’s largest e-commerce company by sales, about investing in the startup, according to a person familiar with the situation.
If the two companies find some way to join forces, Wal-Mart could gain a better foothold in Asia’s third-largest economy, a market that has long eluded the world’s largest retailer. It would also give Flipkart much-needed capital and a powerful partner in its battle against Amazon.com Inc. to become the dominant online retailer of the South Asian nation.
A Wal-Mart investment in Flipkart would be in line with a recent shift in the retailer’s e-commerce strategy aimed at remedying years of sluggish online growth and competing with the increasingly formidable Amazon.
Earlier this month, Wal-Mart completed its acquisition of U.S. online discounter Jet.com Inc. for $3.3 billion, the largest-ever purchase of an e-commerce startup.
Full Content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Plaintiffs Seek Communications In Antitrust Case Against Pioneer
May 9, 2024 by
CPI
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI