Walmart-owned Flipkart in talks to buy Indian grocery chain: Report

Walmart-owned Flipkart in talks to buy Indian grocery chain: Report

The logo of India's e-commerce firm Flipkart is seen in this illustration picture
The logo of India's e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration

BENGALURU: Walmart-owned e-commerce firm Flipkart is in talks to buy Indian grocery chain Namdhari's Fresh, CNBC-TV18 reported on Wednesday (May 1), citing sources.

Namdhari's operates over 30 stores in the southern city of Bengaluru, and the acquisition will help Flipkart expand its food and grocery segment, the report added. 

Both companies had held talks, one source familiar with the matter told Reuters, adding that it was not immediately clear if it would result in a deal.

A Flipkart spokesman said the company had no comments.

Walmart acquired about 77 per cent of Flipkart for roughly US$16 billion last year, beefing up the competition to Amazon.com Inc in the fast growing Indian e-commerce market.

Walmart and Namdhari's did not immediately respond to Reuters' requests for comment.

Source: Reuters

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