CNBC TV-18 reported that Amazon's bid is likely to be on par with Walmart's. For this, it is also willing to pump in an additional $3-4 billion, if Flipkart opts to pursue Amazon's offer instead of Walmart.
Chennai: Walmart is only a few days away from finalising a deal to acquire majority stake in Flipkart despite SoftBanks dissenting voice in the Flipkart boardroom, people directly aware of the matter have said. The final negotiations on the stake and the valuation are on and the deal is expected to be closed by June.
SoftBank was reportedly more keen on Flipkart considering Amazon, which meant a share swap between its Indian unit and Flipkart, while other investors like Tiger Global Management, Accel, Naspers and Tencent are in favor of Walmart. There are investors who would question Amazon about its investments. Both Walmart and India's homegrown e-commerce leader stand to gain much if this long-speculated deal goes through.
The sources added that Sachin Bansal, founder of Flipkart, was in the United States last week to oversee final lap negotiations with Walmart. The company led by Doug McMillon has spent months negotiating with the online marketplace and its large backers, including SoftBank's Vision Fund, which invested past year. Amazon has already vowed to pour $5 billion into India and the efforts are already paying off.
Amazon made a bid to acquire a 51 to 55 percent stake in Flipkart a couple of years ago, but the offer was deemed to be too low at the time, a source told Reuters.
Even for Flipkart, merging itself with Amazon at this stage will be like leaving a lot at the table, finds Ujjawal Chaudhry, engagement manager, e-tailing, RedSeer. The stake could reach as high as 80%, reportedBloomberg. It might not want to leave the game this early. Take Amazon Prime: It offers Indian customers two-day delivery, the ability to stream video and music and other perks for $15.
SoftBank stands to make a tidy profit on a deal it cut a year ago. The company has been pouring billions of dollars in the country to ship goods to shoppers faster. Tiger Global and SoftBank are largest shareholders in Flipkart, holding 20% each in the company.
This would beat out Disney's Star Wars: The Force Awakens , which took 12 days to reach the massive milestone. By any measure, the 2-hour-and-40 minute-long Infinity War is one of the largest films ever assembled.
After seeing a day in Arthur's life and talking to his creators at Rockstar, it seems that despite his rough exterior, Mr. The boxart features cover art from the most recently trailer and this looks to apply to the final retail art as well.
Prime Minister Narendra Modi has said that his government is committed to empower farmers and double their income by 2022. The Congress chief said that the farmers did not receive the additional 50 per cent of their Minimum Support Price (MSP).
IDC found worldwide smartphone sales fell 2.9 percent to 334.3 million handsets compared with the same quarter past year . Apple took the top four spots rounded out with the iPhone 8 at 12.5M, iPhone 8 Plus at 8.3M, and iPhone 7 at 5.6M.
In addition to the name change, the children participating in the program will be referred to as scouts instead of boy scouts. CEO Nikki Williams of the Girl Scouts of Virginia Skyline is concerned about the programming for girls who enter Scouts BSA.
The men reportedly responsible for Till's murder were tried, but an all-white, all-male jury acquitted the suspects. Bill Cosby wife Camille Cosby has finally broken her silence following his guilty verdict.
Langer was appointed on Wednesday, replacing Darren Lehmann who stepped down in the wake of the ball-tampering scandal in March. A father to four daughters, he also described himself as a "hippy", as well as a mentor, to the amusement of reporters.
The name change comes during worsening relations between the Girl Scouts of America and Boy Scouts of America . Still, some locals say they never thought the Boy Scouts would make such big changes but are happy they did.
Those piles of cash were an easy score for anyone who happened upon the money , it was all right there in a pile. Sergeant Perrine says an undetermined amount remains unaccounted for as some drivers stopped to scoop up cash .
Now that the court has ruled in the board's favor, the building's 377 condo owners can vote on whether to remove Trump's name. Trump's company has said Trump Place is obligated to keep the name on view and signaled Thursday that it plans to press on.
Justify likes the lead, but Smith said he doesn't expect him to get frazzled by the rabbits. "They can never be the same". He started with one horse . "The first time I worked him at Santa Anita, I knew he was a really good horse ", he said.
Southwest Airlines (NYSE:LUV) Posts Earnings Results
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1st death from romaine lettuce E. coli outbreak
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US Troop Levels In South Korea 'are not on the table'
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John Peterson still leading Wells Fargo Championship
It showed all day in his inconsistent play on the greens. "I hit it all right", Woods said. "We're all going to be close . He was tied for 35th, his worst position after the opening round since he was tied for 61st at Riviera in February.