Wal-Mart in talks to buy stake in Indian online retailer Flipkart: sources

MUMBAI/HONG KONG (Reuters) – Wal-Mart Stores Inc is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two people familiar with the matter said, as the world's biggest retailer aims to break into a fast growing but highly competitive online retail market. A deal would pit Wal-Mart against U.S. rival Amazon.com Inc, which has been expanding rapidly in a market that Bank of America Merrill Lynch has forecast will surge to $220 billion in value of goods sold by 2025 from about $11 billion last year. Wal-Mart operates 21 wholesale stores in the South Asian country, but is discouraged from setting up its own bricks-and-mortar shops by rules that limit foreign ownership for multi-brand retailers to 51 percent and the cost of setting up shops in a country as large as India.

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