Amazon has emerged as new contender for Indian e-commerce giant Flipkart.
Although Sachin's exit from Flipkart looks imminent, Walmart is holding on to Kalyan Krishnamurthy, the web retailer's present chief executive, TOI further said citing sources. According to reports all major investors in Flipkart, including SoftBank of Japan, are on board with Walmart's purchase and the deal could be announced in the coming days.
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But she said the negotiations should be based on equality and respect, to provide a "win-win" agreement for both sides. A Chinese foreign ministry spokeswoman confirmed the talks had begun, but did not provide further information.
Another senior executive at Flipkart who spoke to Moneycontrol on the condition of anonymity said that the top management has not communicated anything about any deal to the employees, and even if a deal was to happen, employees are not expecting any visible change in the way the company operates.
Apart from a 60 percent stake, Amazon also offered Flipkart a breakup fee of USA $2 billion, the channel further said in its report.
The sources added that Sachin Bansal, founder of Flipkart, was in the U.S. last week to oversee final lap negotiations with Walmart.
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Modi also appreciated the role of active social media users who have 'helped in safeguarding the freedom of press and expression'. It is important to note that India's rank on the World Press Freedom Index 2018 is just one place above Pakistan's .
People familiar with the negotiations said Walmart has been keen on retaining only one of the two founders as they fine-tune the deal. The valuation is said to be what was making rounds on the internet, i.e. $20 Billion. SoftBank and Tiger Global are the two largest investors in Flipkart, with the likes of Naspers, Accel Partners, and DST Global being the other key shareholders.
The newspaper report that Walmart wants Group CEO Binny Bansal and Krishnamurthy to have more crucial rules in the company.
US-based fund house Valic, which holds around 4,502 shares in Flipkart, and Vanguard World Fund, which has four lakh shares, have pegged the valuation of the e-commerce company between United States dollars 15 billion and USD 19 billion.
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Angrily reacting to the report, Trump said it was "disgraceful" that classified information was illegally leaked to the media. Mueller was appointed by Deputy Attorney General Rod Rosenstein in May 2017 after Comey was sacked .