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Flipkart eyes US listing through SPAC deal: report

India's top e-commerce player seeks war chest for fighting Amazon

Walmart-owned Flipkart and Amazon.com are locked in a tight race for the lead in India's e-commerce market.   © Reuters

NEW YORK -- Walmart-owned Indian e-commerce company Flipkart is reportedly exploring a U.S. listing through a merger with a buyout vehicle, seeking a valuation of at least $35 billion.

The move would give India's online shopping market leader a fresh injection of capital to beat back competition from Amazon.com.

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