BENGALURU - Walmart Inc is in talks with Tata Group for a potential investment of up to $25 billion in the Indian salt-to-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 on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. Separately, Bloomberg News reported Tata Group is in discussions with potential investors about stakes in its new digital platform.
The super app, which is scheduled to be launched in India in December or January, will bring together Tata’s consumer business under one channel offering a wide range of products in the retail space, Mint said.Shares of Tata Consultancy Services, Tata Motors and Tata Steel gained more than 1% each, with TCS the top boost to the Nifty 50 index.
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Kroenke and his wife should look to put money into Arsenal football club then we can think about mint.
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