Even as Walmart’s bid to invest in
Indian e-commerce giant Flipkart at a $20 billion valuation
is nearing closure, the stage is still open for other investors to jump in and
make a counter bid as no term sheet has been signed yet.
On Wednesday, Livemint reported
that Amazon may submit a rival offer to buy Flipkart and
has held early exploratory talks with regard to the same. However, the
newspaper said that the deal
between Flipkart and Walmart was more likely to go through.
A person close to the developments with
whom Business Standard spoke said that the term sheet for Walmart to
invest in Flipkart was close to being finalised, but until it is
signed the potential for counterbids remains open. “Without the signing of the
term sheet with Walmart, there is no exclusivity in the deal for now which
means there is scope for other players to join the bid. However, it may get
signed as soon as next week.”
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