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    Exclusive: Walmart keen on Flipkart's IPO post acquisition

    retail | IST

    Exclusive: Walmart keen on Flipkart's IPO post acquisition

    US-based retail giant Walmart is keen on Indian e-commerce giant Flipkart's initial public offering (IPO) post acquisition, said people familiar with the matter.
    Walmart is likely to keep its cash and carry business separate from merged entity.
    The company has given informal assurance to investors on Flipkart's IPO, said the sources.
    Walmart declined to comment on CNBC-TV18's query and Flipkart is yet to respond on this.
    Flipkart's share holders, Tiger Global and Tencent, are likely to retain their small stake post IPO.
    Earlier, CNBC-TV18 has reported that Amazon has emerged as new contender for Flipkart.
    The global e-tailer has made a formal offer to buy a 60% stake in Flipkart on Monday.
    Walmart's IPO assurance to keep 'like minded' investors on board.
    Walmart will also retain the management team of Flipkart including CEO Kalyan Krishnamurthy, said an earlier report by Live Mint a few days ago.
    Walmart is also keen on continuing relations with Tencent, Tiger Global and Google.
    Recently, Walmart and Tencent teamed up in China to take on Alibaba.
    Google is also set to make a small investment in Flipkart as part of a multi-billion dollar deal.
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