It also appears that Amazon is seeking a non-compete clause with Flipkart's founders through the deal.
"Amazon should try to avert a deal between Walmart and Flipkart, otherwise it is going to be a long-drawn bloody battle for the American e-commerce company".
The talks with Walmart for what could be its largest acquisition to date are still ongoing, and a deal is expected to be clinched soon, two people told Reuters on Wednesday.
With India seen as the next bastion of growth for e-commerce Amazon and Walmart have been picking up their efforts in the country.
Amazon's offer is likely to be on par with Walmart's bid for the Indian company.
However, no reports quoted inside sources as saying that the Japanese company has now agreed to sell the online retailer to Walmart as all the other key shareholders, including Tiger Global Management, Naspers and Accel Partners, were firm in their preference for Walmart. The buzz around this deal only got louder recently, with SoftBank's CEO, Masayoshi Son, reportedly meeting Walmart's CEO Doug McMillon to discuss the deal late last month.
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The sources noted that Walmart will buy at least 55 percent of Flipkart in a deal that will value the company at $20-21 billion.
The Flipkart deal would also propel the Bentonville, Arkansas-based retail behemoth to hasten its online expansion into remaining Asian markets, the sources added.
Walmart has entered the final leg of negotiations to buy a majority stake in Flipkart.
The booming India e-commerce market is estimated to have touched $33 billion in 2017-18. At that time, Flipkart had also raised funds from eBay, Tencent Holdings and Microsoft Corp. A Walmart-Flipkart deal could lead to more intense price competition, retail consultants said.
Anyway, Flipkart's investors and founders are leaning towards Walmart's bid and the Sachin Bansal (Flipkart's founder) has already been in the USA to negotiate with Walmart's execs.
A Common myna sits next to the logo of India's e-commerce firm Flipkart.
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