Walmart chief executive <a href="http://www.wionews.com/videos/indias-biggest-fdi-deal-is-the-walmart-flipkart-deal-134797">Doug McMillon is expected to </a>announce the purchase of majoritiy stake in India's e-commerce giant Flipkart paving the way for the biggest online retail deal in the country.

Reports say Walmart and Google parent Alphabet Inc is set to bag 75 per cent stake in Flipkart for $15 billion, setting the stage for a clash with Jeff Bezos-owned Amazon in India which is generally regarded as the No-2 e-commerce company in the country.

Amazon has already begun building up its war chest infusing fresh capital worth Rs 2,600 crore into its India unit, Amazon Seller Services.

The Flipkart Group includes fashion portals Myntra-Jabong, payments unit PhonePe and logistics firm Ekart.

Flipkart which was being led by Sachin Bansal and Binny Bansal will see their company being led by the US retail giant Walmart. The deal is likely to value Flipkart at $20 billion. Reports say Flipkart's shareholders China’s Tencent Holdings, Tiger Global and Softbank will exit the company.

The company is also likely to inform the fate of the founders with reports indicating that &nbspSachin Bansal may sell his entire 5.5% stake in Flipkart to Walmart and exit the company.

Amazon has already begun building up its war chest infusing fresh capital worth Rs 2,600 crore into its India unit, Amazon Seller Services.

Walmart chief executive Doug McMillon is expected to announce the purchase of majoritiy stake in India's e-commerce giant Flipkart paving the way for the biggest online retail deal in the country. Reports say Walmart and Google parent Alphabet Inc is set to bag 75 per cent stake in Flipkart for $15 billion, setting the stage for a clash with Jeff Bezos-owned Amazon in India which is generally regarded as the No-2 e-commerce company in the country. Amazon has already begun building up its war chest infusing fresh capital worth Rs 2,600 crore into its India unit, Amazon Seller Services. The Flipkart Group includes fashion portals Myntra-Jabong, payments unit PhonePe and logistics firm Ekart. Flipkart which was being led by Sachin Bansal and Binny Bansal will see their company being led by the US retail giant Walmart. The deal is likely to value Flipkart at $20 billion. Reports say Flipkart's shareholders China’s Tencent Holdings, Tiger Global and Softbank will exit the company. The company is also likely to inform the fate of the founders with reports indicating that &nbspSachin Bansal may sell his entire 5.5% stake in Flipkart to Walmart and exit the company.

Walmart may announce Flipkart deal today

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Walmart may announce Flipkart deal today