Wal-Mart Stores Inc to buy a minority stake in Flipkart

FILE PHOTO: The logo of Walmart store is pictured in Rio de Janeiro, Brazil January 22, 2018. REUTERS/Ricardo Moraes/File photo

Vastavam web: U.S. retailer Wal-Mart Stores Inc is in advanced talks to buy a minority stake in Indian e-commerce firm Flipkart, Indian financial daily the Economic Times reported on Tuesday.Walmart could buy a 15 percent to 20 percent stake in Amazon.com Inc’s main competitor in India, the newspaper said, citing two anonymous sources.“We don’t comment on rumours and speculation,” Walmart spokesman Randy Hargrove told Reuters via email.Bengaluru-based Flipkart was not immediately available for comment outside regular business hours.