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/ Walmart confirms purchase of 77% of Flipkart in $16B deal
Walmart confirms purchase of 77% of Flipkart in $16B deal
Walmart, the largest retailer in the world, has struck a deal worth $16B with India's top e-commerce retailer Flipkart. The deal, which is pending regulatory approval in India, gives Walmart a 77% stake in Flipkart, putting the company's total value at $20.8 billion. Flipkart's other investors - Tencent, Tiger Global and Microsoft will stay on and work with Walmart. Before Walmart sealed the deal, Amazon offered to acquire a 60% share of Flipkart through a $12B investment. India is the second-largest Asian market after China, and one of the fastest-growing in the World. And it...
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