--Walmart is in talks to acquire more than 40% of Flipkart, an e-commerce company, Reuters reports, citing unnamed sources.

--This would be one of the Walmart's biggest overseas acquisitions, with a valuation for Flipkart likely exceeding $12 billion, according to Reuters.

--The deal would give Flipkart extra backing in its competition with Amazon in India, Reuters says.

Full story: http://reut.rs/2ByhnT5

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(END) Dow Jones Newswires

February 16, 2018 05:35 ET (10:35 GMT)

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