Day: May 10, 2018

Flipkart-Walmart Deal Announced; Walmart to Buy 77 Percent Controlling Stake for $16 Billion

Walmart has agreed to pay $16 billion (roughly Rs. 1.07 lakh crores) for a roughly 77 percent stake in Indian online shopping site Flipkart, the US retailer’s biggest foreign investment as it battles rival Amazon.com in one of the world’s biggest emerging markets. The deal, capping almost two years of talks, will help