Walmart buys 77% stake in Flipkart for $16b

Walmart buys 77% stake in Flipkart for $16b

The high profile acquisition culminates discussions between Walmart and the Bengaluru-based company.



By IANS

Published: Wed 9 May 2018, 3:37 PM

Last updated: Wed 9 May 2018, 6:17 PM

The world's largest retailer, Walmart Inc, on Wednesday announced it was buying 77 per cent equity stake in India's e-tail major Flipkart for $16 billion.

"Subject to regulatory approval in India, Walmart will pay $16 billion for an initial stake of 77 percent in Flipkart," the Kansas-based company said in a statement from the US.
 


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