Done deal! Walmart is buying controlling stake in Flipkart

Done deal! Walmart is buying controlling stake in Flipkart
Done deal! Walmart is buying controlling stake in Flipkart

Done deal! Walmart is buying controlling stake in Flipkart

World’s biggest ever e-commerce deal!

US retail giant Walmart will buy a majority stake in India’s largest e-commerce company Flipkart, according to the head of SoftBank, a major stakeholder in the Indian firm.

Walmart will pick up 71.06 per cent stake for USD 15 billion in the Bengaluru-based ecommerce major. Son says that USD 2.5 billion Flipkart stake is now worth about USD 4 billion in deal, as per reports.

“Last night, (they) reached a final agreement and it was decided that Flipkart will be sold to America’s Walmart,” said SoftBank CEO Masayoshi Son, whose firm owns a 20 per cent stake in Flipkart.

-PTC News