*By Jacqueline Corba* The Indian e-commerce company Flipkart accepted a $15 billion bid from a group led by Walmart, striking a blow to Amazon's online supremacy in India, according to a report in The Wall Street Journal and Bloomberg. Flipkart's board of directors approved the transaction just days after Amazon made its own offer, [The Wall Street Journal's](https://www.wsj.com/articles/walmart-seeking-to-buy-stake-in-indian-e-commerce-giant-flipkart-1525437107) Sarah Nassauer said in an interview Friday with Cheddar. The deal, Walmart's biggest in nearly two decades, would give the retail giant a 75 percent stake in Flipkart. "Amazon has publicly said they want to make a go of it in India, so I'm sure that's playing into their thinking," Nassauer said, adding that there are still a lot of "ifs." India is expected to drive 30 percent of Amazon's revenue growth over the next three years, according to a recent Morgan Stanley analyst report. And the Indian e-commerce market is expected to be worth $200 billion by 2026, with Walmart and Amazon eager to capture as much of that business as possible. Flipkart ー started by two former Amazon employees in 2007 ー was Walmart's way in, said Nassauer. "This sets them both up to be in direct competition there and give it a real try," she said. Shares of Walmart closed up 1.5 percent on Friday. For full interview, [click here](https://cheddar.com/videos/walmart-taking-on-amazon-in-flipkart-deal).

Share:
More In Business
Load More