Amazon joins in the race with Walmart Inc to bid for Flipkart
Amazon.com Inc has officially announced to buy 60% stake in Indian shopping online giant Flipkart. As per the report of CNBC-TV18, the company has offered Flipkart about a fee of $2 billion and the bid is to compete with Walmart Inc bid. Amazon is looking for a non-compete agreement with Flipkart's foundation but in April report it is said that Walmart will be buying a majority stake by the June end.