Amazon: Big Indian rival Flipkart is bulking up

Flipkart, Amazon’s (AMZN, Tech30) top rival in India, is on track to complete takeovers of two big local competitors that will boost its arsenal in the battle for the country’s online retail crown.

The Bangalore-based firm has moved a step closer to acquiring eBay’s (EBAY) Indian business, after antitrust regulators approved a merger of the two on Thursday. EBay is swapping its India business and $500 million in cash for a stake in Flipkart.

Source: Amazon: Big Indian rival Flipkart is bulking up – Jun. 16, 2017