Amazon seeks to acquire 60% stake in Flipkart to tackle Walmart's bid

The battle for Flipkart intensifies as now Amazon has initiated a formal bid to acquire a 60% stake in the Indian e-commerce platform according to a report by CNBC TV18 which cited sources.
The news comes after Google's parent company Alphabet was reported to be set to join forces with Walmart in India to aid Walmart's efforts to buy a majority stake in Flipkart for around $12bn.
According to CNBC TV18, Amazon’s offer was on par with Walmart's bid, while it had additionally offered to