Walmart Inc. is in talks for as much as a $25 billion stake in a Mumbai, India conglomerate that is planning to launch a “super app” designed to offer a mega selection of retail products, sources told Mint.
The Tata Group’s app, on track to debut by year’s end or January of 2021, will offer food and grocery ordering, fashion and lifestyle, consumer electronics and consumer durables, insurance and financial services, education, healthcare and bill payments.
“Walmart is keen to get a strong brand backing its eCommerce business, while Tata Group wants a global name and an established player in the online space,” a source told Mint.
Source: Pymnts
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