After the World's biggest e-commerce deal of Flipkart-Walmart, eBay plans to relaunch its India business after notifying Walmart about its intention of selling its stake in Flipkart to Walmart for around US$1.1 billion.
Flipkart will be listed on Indian stock exchanges as a fully-owned Walmart subsidiary down subsequent years. Walmart and Amazon are both USA companies, so this deal will be the boosting point at this moment.
Sachin Bansal said he will be "cheering from the outside" and urged Flipkart team to continue with the momentum. That was the second largest deal in the consumer internet space in India, behind Flipkart's acquisition of fashion e-tailer Myntra in 2014.
Closing is expected later this calendar year, subject to regulatory approval.
Walmart yesterday stated in the press release, "The remainder of the business will be held by some of Flipkart's existing shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp".
The CPM said it was common knowledge that Walmart sourced its products from global markets and now these will be sold in India, further destroying the small scale and medium scale sector which is the largest provider of employment after the agricultural sector.
What do the world's largest retailer Walmart and India's largest online marketplace have in common? At that time, both eBay and Flipkart, also entered into commercial agreements meant to boost cross-border trade for both companies.
"We are studying the deal and may resort to legal options based on the structure of the deal". "We have met before and I am sure will meet again".
Soni, who has no direct knowledge of a deal, speculates that Alphabet's would be less directly related to e-commerce, and more tied to the size of the market and keeping ahead of Amazon, which was also reportedly interested buying Flipkart. "Most of these small entrepreneurs are already battling for their existence; entry of Walmart will further create problems for them", the co-convenor of the manch said in a letter to the prime minister.
The combination with Walmart could be controversial, with concerns about how a deal might affect India's smaller retailers. "Flipsters, you better continue to do a good job!"
India's hot economy makes it attractive to companies eager to sell goods to its massive population.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, which has served as outside counsel to Flipkart since 2011, including advising the company a year ago on a $2.5 billion investment from Japan's SoftBank Group Corp.'s Vision Fund, is serving as lead M&A and worldwide counsel to the company on its proposed sale to Walmart. "There will be cent per cent rise in Flipkart's brand value with the brand becoming more credible", said an expert from the authenticity.