Walmart to buy more than 51% stake in Indian online marketplace..

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Posted by SB SB

Economic Times — The US retail giant has been in talks with Flipkart for months to acquire controlling stake as it looks to take on rival Inc head-on in India, a market where ecommerce is tipped to grow to $200 billion in a decade.
SoftBank Group, which owns about a fifth of Flipkart through its Vision Fund, was unwilling to sell a part of its stake as Walmart was offering to buy existing shares at a valuation of $12 billion, a price the Japanese tech investor considered low, it was reported... → Full Article

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