Walmart is nearing a deal to acquire a majority stake in India’s leading online retailer, a bold move that would open another front in its escalating war with Amazon.

The Indian company, Flipkart, is a start-up that sells everything from clothing to smartphones in the country’s blossoming e-commerce market.

The two sides are in advanced discussions, and a deal could be announced soon, according to three people briefed on the matter. Exact terms are not yet final, and the talks are fluid, said these people, who spoke on the condition of anonymity because the negotiations were continuing.

Two of the people said that the deal would value Flipkart at about $20 billion and that Walmart was looking to acquire a stake of at least 60 percent.

Sourced through Scoop.it from: www.nytimes.com