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Transcript

00:00:01
>> Walmart might be about to get a victory over Amazon in India. Sources exclusively tell Reuters that the company may be buying a major share of Indian e-commerce giant, Flipkart. In a deal that could be finalized by the end of June. It comes after reports last week that Walmart proposed buying out over 50% of the company.
00:00:23
They're hoping to cash in on the rapidly expanding market there. Which some experts say could be worth more than $200 billion a year a decade from now. But Reuters' India tech correspondent Sankalp Phartiyal says Amazon won't make it easy for its rival.>> In the home US market, Walmart and Amazon are engaged in a high stakes retail battle.
00:00:45
Investing in Flipkart gives Walmart the opportunity to take on Amazon in another big market. Amazon, we hear, is also considering a rival bid for Flipkart.>> Amazon currently trails Flipkart in its share of the Indian e-commerce market. It's a region Walmart's tried to break into for years. But tough restrictions on foreign investment have forced it to set limits.
00:01:08
Flipkart investors worry that an Amazon deal would bring problems of its own.>> Our sources say that a merger between Flipkart and Amazon could potentially create a giant. That would monopolize the Indian online retail market, and this would run into regulatory hurdles.>> Walmart's attempt to enter e-commerce comes as Amazon embraces the offline world.
00:01:30
An affiliate of the company recently picked up a $28 million stake in Indian retailer, Shopper's Stop. Meanwhile, back in the states, Amazon also bought high end grocer, Whole Foods for $13.7 billion last year. Walmart's potential buyout in India, though, could help Flipkart defend its home turf. By using the added funds and experience offered by the world's largest retailer.