Walmart reportedly beats Amazon for Flipkart
It appears that the battle over India’s e-commerce giant is nearly over.
Walmart beat Amazon in the battle to purchase Flipkart, Bloomberg reported. The board of Flipkart has approved an agreement to sell about 75% of the company to a Walmart Inc.-led group for approximately $15 billion, the report said.
According to the deal, SoftBank will sell the approximately 20% stake it holds in Flipkart through an investment fund that is valued at roughly $20 billion.
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Walmart beat Amazon in the battle to purchase Flipkart, Bloomberg reported. The board of Flipkart has approved an agreement to sell about 75% of the company to a Walmart Inc.-led group for approximately $15 billion, the report said.
According to the deal, SoftBank will sell the approximately 20% stake it holds in Flipkart through an investment fund that is valued at roughly $20 billion.
Click here to read more.