Wal-Mart in talks to buy stake in Flipkart

Wal-Mart Stores Inc is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two sources familiar with the matter said, as the world's biggest retailer aims to get a slice of a fast-growing online retail market.

One of the sources said the U.S. retailer was looking to invest between $750 million and $1 billion in Flipkart, but the final value and size of the stake would depend on the outcome of talks about the company's overall valuation.

He added Wal-Mart and Flipkart were also contemplating a collaboration that would see them leverage each other's expertise in retail and supply chains in India.

Both sources declined to be identified because the talks are preliminary and have not been made public. Wal-Mart in India and Flipkart declined to comment.