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May 9, 2018
Written By Mayu Saini
The U.S. retailer has taken a 77 percent stake in Flipkart for $16 billion and becomes the market leader in India.
NEW DELHI, India — After years of negotiating for a toehold in the $700 billion Indian retail market, Walmart Stores Inc. has finally made a strong entry by taking a majority stake in the country’s biggest e-commerce player, Flipkart.
Walmart will invest $16 billion in Flipkart, for a 77 percent stake in the company, which has been value …
Source: business-news
