Walmart recently acquired a 77 percent stake in Flipkart for $16 billion. Alphabet has been engaging in conversations with the company, but a person close to the deal says the $3 billion stake suggested by the Indian media is inflated.
Alphabet’s investment in Flipkart could align the company with Walmart and give it inroads in the Indian e-commerce market while also promoting its enterprise technology, an anonymous Flipkart executive told CNBC.
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