Walmart still eyeing Flipkart; due diligence reportedly done

Walmart has once again set its eyes on India's e-commerce giant, Flipkart and has already completed a thorough due diligence process on e-commerce firm, according to multiple media reports.

Citing people in the know of the things, Livemint reported that Walmart has made a proposal to take a controlling stake of 51 percent or more and is looking to shell out about $10 billion to $12 billion for the same. The deal would value Flipkart at roughly $20 billion.

However, the deal isn't done yet as there are also reports about Amazon exploring a rival offer to acquire its Indian competitor. The likelihood of this deal is low though as it could raise competition concerns.

While for Walmart, Flipkart opens up a vast market and another front to take on its arch-rival, the Indian marketplace in return gets another bag full of ammunition to up its game against Amazon. Not only would it get additional funds but also a new team with extensive experience in retailing, logistics and supply chain management.

According to the sources, Tiger Global Management, Accel Partners, and Naspers, would all likely sell their entire stakes in Flipkart to Walmart if a deal is reached.

None of the parties have yet responded to the reports and it remains to be seen, who gets the biggest share of India's burgeoning e-commerce space.