MUMBAI -- Walmart's $16 billion acquisition of India's top online retailer, Flipkart, is likely to set off an arms race among major players to secure smaller e-commerce platforms, logistics companies and warehouses in the fast-growing market.
The new e-commerce landscape sees Flipkart, Walmart and China's Tencent Holdings forming the biggest group, closely followed by Amazon.com. Another rapidly rising contender is the Paytm group backed by Alibaba Group Holding of China and SoftBank Group of Japan. South Africa's Naspers, which agreed to sell all of its Flipkart shares to Walmart, is also in the mix.
