Report: Walmart Close to Flipkart Deal — Reuters


Reuters reports that Walmart is nearing a deal to purchase a majority stake in Flipkart, an Indian e-commerce company:

“Walmart will buy both new and existing Flipkart shares, with the new shares expected to value the Bengaluru-based firm at at least $18 billion, the sources said. The price for existing shares would value the firm at about $12 billion, one of the people said.”

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