Amazon makes formal offer to buy 60% Flipkart stake: Reports
US-based e-commerce giant Amazon has made a formal offer to acquire 60% stake in its Indian counterpart Flipkart, proposing to merge the two companies, as per reports. Amazon has also offered a breakup fee of $2 billion, the reports added. Meanwhile, it is being speculated that Walmart is offering to buy a controlling stake in Flipkart for $10-12 billion.