Amazon in the race for acquiring 60% stake in Indian firm Flipkart

A majority of Flipkart stakeholders bat for a cashout deal rather than a shareswap with the American online retail giant as it prompted SoftBank to propose that it is ready to pump in additional Dollars 4 billion in Flipkart, which could be utilised to shop for stocks from smaller buyers and help it hold around 20 per cent stake in the integrate with Amazon, the ToI report mentioned. The Walmart-Flipkart deal would be Form 1 and an Amazon-Flipkart deal Form 2, said legal experts.

CNBC TV-18 reported that Amazon's bid is likely to be on par with Walmart's.

While most other investors are keen Walmart's cashout deal, SoftBank, keen on maintaining its 20% in the combined Flipkart-Amazon entity, would like to invest the additional amount that can in-turn be deployed to buy shares from smaller investors.

Reutersin April reported that Walmart was likely to reach a deal to buy a majority stake in Flipkart by the end of June.

Inc. (AMZN) stepped up its battle for Indian e-commerce dominance, formally making an offer for Flipkart, the local internet retailer that is in deal talks with Walmart Inc.

Watch Tiger Woods pour in back-to-back birdie putts
So, I'm just going to try and win this tournament. "He looked great", Love said about Woods' game, as quoted on Golfweek . Quail Hollow Country Club has changed since Tiger Woods last played its course.

The Flipkart deal would also propel the Bentonville, Arkansas-based retail behemoth to hasten its online expansion into remaining Asian markets, the sources added.

At the time of last month's announcement, local media reported that Amazon was seeking a possible counteroffer to Walmart's. The Amazon bid is pegged at about $22-23 billion.

The sharp fall in the share price of InterGlobe Aviation, the company that operates IndiGo, has come under the regulatory scanner. Flipkart has been valued at around $20 billion and its major investors include SoftBank (23% stake), Tiger Global (20% stake), Naspers (16.6% stake) and Accel Partners (one of the early investors in Flipkart that hold less than 10% stake). The US retailer is pushing to expand its presence in India.

The logo of Inc is seen in Sao Paulo, Brazil October 17, 2017. Both Walmart and India's homegrown e-commerce leader stand to gain much if this long-speculated deal goes through. Chasing a business started by two former employees suggests the $760 billion e-commerce giant is anxious by the idea of its main local rival joining forces with Walmart.

Walmart's shares were 0.84 percent down at $86.67 during afternoon U.S. trading.

(Copyright © 2015. All Rights Reserved.)

Xerox CEO Jeff Jacobson quits after fight with Carl Icahn
Fujifilm also said in its statement that it would appeal an April 27 USA court ruling temporarily blocking the Xerox deal. Ultimately, Fujifilm would take control of Xerox, whose brand became synonymous with photocopying.

US Claims Chinese Lasers Injured Two Pilots, Threatens 'Consequences'
Media reports have suggested China has stationed weapons systems on disputed islands in the region. China, Vietnam, the Philippines, Taiwan, Malaysia and Brunei all have competing claims.

Ensure Dino Melaye Is Safe, Dogara Orders Police
Karimi Sunday, raised a point of personal explanation on the floor to bring the "plight" of Melaye to the attention of members. He was arraigned on charges bordering on his alleged escape from a police vehicle in Abuja on April 24, 2018 .

Flipkart co-founder likely to quit after Walmart takeover
Walmart will also retain Kalyan Krishnamurthy, who took over as the CEO of Flipkart in January a year ago. The channel said Walmart's offer had the backing of Flipkart's founders and many investors.

Trump Conditionally Agrees to Mueller Interview, Again
But Trump fears Mueller's operation is biased against him: "We have 13 people and they're all Democrats - real Democrats".

Amazon will back a horse named 'Audible' at Kentucky Derby
Instead it is just another stakes race, albeit one that gets more media attention than many others, because of its "big brother". Justify , trained by Bob Baffert, is the victor of the Santa Anita Derby and has won his three starts by a combined 19 lengths.

McIlroy aims to move on from Masters misery
World number seven McIlroy, who is aiming for his third win in the tournament, said: "I love this place". As hangovers go, this was a relatively mild one for Rory McIlroy . "I didn't play well in the pro-am.

HTC to likely unveil U12+ on May 23
It might strike most as unusual , but as per leaks, HTC might be calling their upcoming flagship, the U12 Plus and not the U12. It will sport HTC USonic with Active Noise Cancellation, and HTC BoomSound Hi-Fi edition for an enhanced audio experience.

Wind advisory in area throughout afternoon
Winds from the southwest of 15 to 25 miles per hour are expected, becoming west from 25 to 30 miles per hour this afternoon. Travel could be hard , wind could bring down tree limbs and isolated power outages are possible.

NJ school's chief out for run charged with public defecation
Earlier today (May 2, 2018), we learned of municipal court charges facing our current superintendent of schools in Holmdel, NJ. The school district said they can only withhold his pay in the face of indictments or tenure charges, as a matter of state law.

Central America asylum seekers allowed into US from Mexico
They also know that the process of vetting those seeking asylum could take as little as three months or as long as five years. More than 50 members of the so-called migrant caravan are now being evaluated for asylum by U.S.

Ichiro Suzuki Joins Mariners Front Office, but Don't Call It Retirement
The 44-year-old Japanese, who signed a one-year contract with the club in March, will not play again in the 2018 season. Ichiro Suzuki started playing professional baseball in 1992, though he didn't make his Major League Debut until 2001.

Yaya Toure will leave Manchester City in the summer - Pep Guardiola
Also now on 93 points, they are within three points of breaking Chelsea's points tally of 95 set in the 2004/2005 season. One year later, Touré would move to City in a £24million deal - and the rest, as they say, is history.

Modi gets an 'F' grade from Rahul for farm sector blues
On this day, the results of the ongoing assembly electoral battle in the southern state of Karnataka is scheduled to be announced. The Congress has earlier accused the BJP of limiting the number of Modi rallies in Karnataka sensing an impending defeat.

Donald Trump dictated his own 'excellent' bill of health, says doc
The letter, penned in 2015, has drawn sharp criticism for painting the president's health in allegedly unmerited glowing terms. The White House has not yet responded to CNBC's request for a response to Bornstein's claims.

More News

More News