Walmart in Talks for $25 Billion Investment in Tata App, Mint Reports
September 28 2020 - 9:35PM
Dow Jones News
-- Walmart Inc. is in discussions with Tata Group for a
potential investment of $20 billion to $25 billion in the Indian
company's upcoming super-app business, Indian newspaper Mint
reports, citing unnamed sources.
-- The two firms are expected to jointly run the new digital
platform, which will offer products and services including food
delivery and bill payment, and more foreign investors may be roped
in, Mint reports.
-- The app's valuation is estimated at around $50 billion to $60
billion, according to Mint.
Full story: https://bit.ly/2HFeMvH
Write to Singapore editors at singaporeeditors@dowjones.com
(END) Dow Jones Newswires
September 28, 2020 21:20 ET (01:20 GMT)
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