Walmart buys 77% stake in Flipkart for (Dollar) 16 bn

Bengaluru, May 9 : The world's largest retailer, Walmart Inc, on Wednesday announced it was buying 77 per cent equity stake in India's e-tail major Flipkart for (Dollar) 16 billion.

"Subject to regulatory approval in India, Walmart will pay (Dollar) 16 billion for an initial stake of 77 percent in Flipkart," the Kansas-based company said in a statement from the US.



Source: IANS