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...
Source: https://www.gsmarena.com/walmart_gains_77_of_flipkart_in_16b_deal-news-30959.php
