BENGALURU: Walmart Inc is in talks with Tata Group for an investment of up to US$25 billion in the Indian conglomerate's planned"super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter.
"Walmart is keen to get a strong brand backing its e-commerce business, while Tata group wants a global name and an established player in the online space... to be able to compete against Reliance Industries' Jio Platforms and Amazon," a source told Mint. Walmart did not respond to a Reuters request for comment, while Tata and Goldman declined to comment.Shares of Tata Group flagship Tata Consultancy Services climbed 2.6per cent on Tuesday, while Tata Steel gained nearly 1per cent in a flat overall market .
Walmart, Amazon and Reliance Industries , controlled by Asia's richest man Mukesh Ambani, have all made bold bets on India's booming e-commerce market, which Goldman Sachs has estimated to be worth US$99 billion by 2024.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Walmart looking at up to US$25 billion investment in Tata Group's 'super app': MintWalmart Inc is in talks with Tata Group for an investment of up to US$25 billion in the Indian salt-to-software conglomerate's new 'super app', ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Walmart looking at up to US$25 billion investment in Tata Group's 'super app': MintWalmart Inc is in talks with Tata Group for an investment of up to US$25 billion in the Indian salt-to-software conglomerate's new 'super app', ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Judge temporarily blocks US ban on TikTok downloads from US app storesA U.S. judge in Washington has temporarily blocked a Trump administration order banning Apple Inc and Alphabet Inc's Google from offering ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Judge temporarily blocks US ban on TikTok downloads from US app storesWASHINGTON — A US judge in Washington late on Sunday (Sept 27) temporarily blocked a Trump administration order that was set to bar Apple Inc and Alphabet Inc's Google from offering Chinese-owned short video-sharing app TikTok for download at 11.59pm PST (Monday 11:59am SGT) on Sunday.
Source: TODAYonline - 🏆 1. / 99 Read more »
Japanese chipmaker Kioxia shelves US$3.2 billion IPO amid US-China tensionsTOKYO: Kioxia Holdings Corp, the world's second-largest maker of flash memory chips, on Monday shelved plans for what would have been Japan's ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Cleveland-Cliffs to buy US assets of ArcelorMittal for about US$1.4 billionREUTERS: Cleveland-Cliffs Inc, the largest U.S. producer of iron ore pellets, said on Monday it had agreed to buy U.S. assets of the world's ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »