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- Reuters•2 hours ago
MUMBAI/HONG KONG (Reuters) - Wal-Mart Stores Inc is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two people familiar with the matter said, as the world's biggest retailer aims to break into a fast growing but highly competitive online retail market. A deal would pit Wal-Mart against U.S. rival Amazon.com Inc, which has been expanding rapidly in a market that Bank of America Merrill Lynch has forecast will surge to $220 billion in value of goods sold by 2025 from about $11 billion last year. Wal-Mart operates 21 wholesale stores in the South Asian country, but is discouraged from setting up its own bricks-and-mortar shops by rules that limit foreign ownership for multi-brand retailers to 51 percent and the cost of setting up shops in a country as large as India.
- The Wall Street Journal•6 hours ago
A deal would give the startup a powerful partner in its battle against Amazon to become the dominant online retailer in India.
Wal-Mart Stores Inc. (WMT)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||71.19 x 100|
|Ask||72.80 x 400|
|Day's Range||71.38 - 72.32|
|52wk Range||70.30 - 73.19|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||15.46|
|Avg Vol (3m)||8,476,162|
|Dividend & Yield||2.00 (2.77%)|