BENGALURU (Reuters) – Walmart Inc is in talks with Tata Group for an investment of up to $25 billion in the Indian salt-to-software conglomerate’s new “super app”, the Mint newspaper reported on Tuesday, citing people familiar with the matter.
According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata’s e-commerce business and Flipkart, Walmart’s e-commerce unit, according to the report. (https://bit.ly/2EKxZuQ)
Separately, Bloomberg News reported Tata Group is in discussions with potential investors about stakes in the new digital platform. (https://bloom.bg/36c04qd)
The super app aims to create a digital services behemoth offering a wide range of products in the retail space, Mint said.
Tata Group and Walmart did not immediately respond to Reuters requests for comment.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Shounak Dasgupta)