May 2, 2018 / 8:16 AM / 2 months ago

Amazon offers to buy 60 pct stake in India's Flipkart - CNBC-TV18

May 2 (Reuters) - Amazon.com Inc has made a formal offer to buy a 60 percent stake in Indian online retailer Flipkart (IPO-FLPK.N), CNBC-TV18 reported on Wednesday, citing sources.

Amazon also offered Flipkart a breakup fee of $2 billion and is likely to be on par with Walmart Inc's bid for the e-commerce company, CNBC TV-18 reported. bit.ly/2jo03py

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

Representatives at Amazon, Flipkart and Walmart were not immediately available for comment. (Reporting by Shubham Kalia in Bengaluru; Editing by Gopakumar Warrier)

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