Walmart in talks for investment in Tata app
The business will likely be hosted under a Tata Sons subsidiary
Stocks impacted: Walmart Inc (WMT)
Walmart Inc is in talks with Tata Group for a potential investment of up to $25 billion in the Indian conglomerate's new "super app" that could be launched as a joint venture between Tata and Walmart. The business will likely be hosted under a Tata Sons subsidiary. The platform is being considered for launch in December 2020 or January 2021 in India. The new digital platform will offer products and services including food delivery and bill payment. If it happens, the deal would be the largest in India’s retail sector, topping the $16-billion the U.S.-based retailer paid for a 66% stake in e-commerce company Flipkart. Also, Tata Group is reportedly in discussions with potential investors about stakes in its new digital platform. Walmart stocks finished nearly unchanged on Monday.
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