BENTONVILLE (dpa-AFX) - Wal-Mart Stores Inc. (WMT) is in advanced discussions to invest as much as $1 billion into India's Flipkart Online Services Pvt, as the two companies battle Amazon.com Inc. in e-commerce, according to reports citing people familiar with the matter.
Wal-Mart would take a minority stake in Flipkart under the proposed agreement. Final terms of the deal have not been worked out and negotiations are still underway.
Copyright RTT News/dpa-AFX