In this news, we discuss the Walmart looking at up to $25 billion investment in Tata Group’s ‘super app’: Mint.
BENGALURU (Reuters) – Walmart Inc. WMT.N is in talks with Tata Group for an investment of up to $ 25 billion in the Indian salt 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 synergies between Tata’s e-commerce business and Flipkart, the e-commerce unit of Walmart, according to the report.
Separately, Bloomberg News reported that Tata Group is in discussions with potential investors on the challenges of the new digital platform.
The super app aims to create a digital services giant offering a wide range of products in the retail space, Mint said.
Tata Group and Walmart did not immediately respond to requests for comment from Reuters.
Report by Vibhuti Sharma in Bengaluru; Edited by Shounak Dasgupta
Original © Thomson Reuters