US retail giant Walmart may sell its cash-and-carry business in India to Flipkart, The Times of India reported.
Walmart currently operates 28 wholesale stores in India under the 'Best Price' category.
In December 2019, a TOI report stated that the Tata Group is eyeing a 49 percent stake in Walmart’s cash-and-carry business in India but talks have not progressed so far.
Walmart had in May 2018 acquired Bengaluru-based etailer Flipkart for $16 billion.
Flipkart is looking at a reverse acquisition of Walmart’s B2B business as it is looking to strengthen its supply chain, the report added.
Moneycontrol could not independently verify the story.
A Flipkart spokesperson had denied a report in The Economic Times of Walmart consolidating its operations with Flipkart’s back-end. “Walmart remains deeply committed to growing its cash-and-carry business in India and is making deep investment in technology to cater to its members’ need through brick-and-mortar and e-commerce,” the spokesperson told the paper.
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