Here's a look into the Walmart-Flipkart deal and what it means for the retail giant, the e-commerce firm and the customers.
Moneycontrol News
After months of talks, American retail giant Walmart acquired 77 percent in Indian e-commerce firm Flipkart for USD 16 billion, as it made an elephant-footed entry into India’s exploding e-commerce market.
The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp.
Walmart’s foray into India’s online retail space set the stage for an American business war against Amazon.com Inc. in the world’s fifth largest economy.
Here’s what the deal means for Walmart, Flipkart and the customers: